The softening of economic conditions in recent months should impact commercial real estate markets in the months ahead, according to a forward-looking index for the commercial real estate sectors published by the National Association of Realtors.
The Commercial Leading Indicator for Brokerage Activity slowed 0.9% to an index of 117.9 in the second quarter from a reading of 119.0 in the first quarter, and is 2.1% lower than the record 120.5 in the second quarter of 2007.
A combination of a "stronger-than-expected economy, higher Treasury rates, robust supply, and rich valuations resulting in choppy markets" have made the trading environment in H124 "quite difficult," according to Barclays.
Two rating agencies upgraded Los Angeles Unified School District's bond ahead of multi-billion dollar refunding.
The Basel III Endgame proposal to restructure capital holding levels comes under fire.
Friday price talk for the unrated tax-exempt paper was between 11% and 15%.
The board approved that step at its second quarter board meeting held this week.
The Inflation Reduction Act, affordable housing and clean energy were among the topics discussed at Baker Tilly's DevelUP conference in Chicago this week.
