Quarterly results are also coming from TJX, Palo Alto, and others. Economic data will include Fed minutes, existing-home sales, and purchasing managers’ numbers. Read More...
The Properties High Interest Rates Can’t Touch
Don’t expect any fashion bargains on Rodeo Drive in Beverly Hills, or New York’s Fifth Avenue. While the average commercial building is worth 20% less than in 2022, the world’s most exclusive shops have barely been touched by the highest U.S. and European interest rates in two decades. Cartier’s Swiss owner, Compagnie Financière Richemont recently bought a property on London’s Bond Street at a rock-bottom 2.2% rent yield.
The Wall Street Journal
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