An economic downturn far less severe than the Great Recession could force the Federal Reserve to return interest rates to zero and bring back bond buying, Chair Janet Yellen said. Because economic conditions have driven short-term interest rates so low, the central bank has little room to stimulate growth through rate cuts, leaving the Fed with asset purchases as the only real option, she said.
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Investors have several ways to take advantage of aging demographics, including real estate investment trusts and REIT exchange-traded funds familiar with the senior-housing market. "There's a lot of exposure there while still having diversification," says Erika Jensen, president of Respire Wealth Management.
Collateralized loan obligations are regaining popularity as investors seek yield. Refinancing and almost $100 billion in new deals have driven CLO volumes to a record $247 billion through September, outstripping their 2014 full-year record of $151 billion and the 2006 precrisis high of $136 billion, according to JPMorgan Chase data.
Alexandria Real Estate Equities CEO Joel Marcus says the gambles the REIT made several years ago -- investing in urban biotech campuses on both US coasts -- are paying dividends. The trust has a history of being on top of trends, he says, pointing to its 70% margins and its total return, which has exceeded 1,000%.
The transformation of New York City's Lower East Side continues as developers get ready to press ahead with construction of 350,000 square feet of office space, the second phase of the $1.5 billion Essex Crossing mixed-use development. The Lower East Side is part of the Midtown South office submarket, which includes several unconventional office areas, such as Chelsea, the Meatpacking District, SoHo and Union Square.
Target will renovate 1,000 of its 1,800 stores in the next three years, up from the 600 announced earlier this year, after seeing positive results from its first remodels, CEO Brian Cornell said Thursday. As it focuses on competing with Amazon and Walmart, Target will also open more small-format stores and bolster its private-label offerings.
The 4.2% unemployment rate is raising prospects for seasonal hiring and the possibility of a permanent position after the holidays, industry experts say. There's also some evidence that the tight labor market is driving wage increases for retail employees on the front lines, Glassdoor Analyst MaryJo Fitzgerald said.