| The daily source on REITs and real estate investment |  |
- Dow closes at record high
The Dow Jones industrial average closed at an all-time high of 14,253.77 on Tuesday, topping a record set in October 2007. "I'm surprised at the speed of the gains, which have come at a pace that we can't annualize," said Jim McDonald of Northern Trust Global Investments. "But stocks are still not expensive, and we can expect to continue getting a reasonable advance from here." Reuters
(3/6), Barron's (subscription required)/Stocks to Watch blog
(3/5)     
| Capital Markets |  |  |
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- Banks ask judge to dismiss Libor lawsuits
JPMorgan Chase, Bank of America and other banks are being sued by local governments, community banks and customers regarding possible manipulation of the London Interbank Offered Rate. The defendants have asked U.S. District Judge Naomi Reice Buchwald to dismiss the cases, arguing there is no evidence they broke the law. Reuters
(3/5), Bloomberg
(3/5), The Wall Street Journal
(3/5)
| Investment News | | |
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- Why investors like mortgage REITs
Advisers and investors are increasingly drawn to the dividends and income flows offered by mortgage REITs. "Compared to Treasuries, mortgage REITs are paying much better yields -- and we don't see that trend reversing soon," says Matt Reiner, chief investment officer at Capital Investment Advisors. The Wall Street Journal
(3/6)
| Real Estate Marketplace | | |
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- Smith: High-quality properties are hotly pursued
Around the globe investors in commercial real estate are seeking yield and security, says Allen Smith, CEO of Prudential Real Estate Investors. At the same time, supply-demand fundamentals favor sellers, especially for U.S. properties. All that translates into intense demand for the best properties in the best markets, he says.  CNBC
(3/5)
| NAREIT News | | |
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| Policy Watch | | |
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- Obama seeks budget-deal support from Republicans
Putting talks with GOP leaders on the back burner for a while, President Barack Obama is reaching out to rank-and-file Senate Republicans to build support for a budget deal with higher taxes to pay down U.S. debt. Obama told senators that he is willing to make changes in health care and retirement programs to get a budget compromise that includes higher taxes. The Washington Post
(3/5), Bloomberg
(3/6)
- Fed, banks disagree over "stress test" release schedule
The two-part release schedule of "stress tests" of the nation's banks has become a sticking point between major lenders and the Federal Reserve. Some lenders have asked for a one-day release of the results, but Fed officers denied the request, a source said. The central bank is scheduled to release the first round of results Thursday and the second round a week later. The Wall Street Journal
(3/5)
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