At the start of the year, industrial giant Prologis was making some bold predictions.
"Our projections take the bull case on interest rate cuts," they wrote. "While the latest Federal Open Market Committee member projections from December show a median federal funds rate in 2024 in the mid-4% range, lower than 2023's mid-5% range, we expect inflation to slow more quickly than anticipated." The second part of their argument is that the 10-year Treasury yield would "dip below 4% in 2024, ahead of consensus views for around 4%."
Instead, inflation has moved back up a bit in the first two months of the year and the famous saying about the weather in March has largely become in like a bull, out like a bear as the 10-year Treasury yield is as of last Friday 4.22%.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
