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Original perspectives and personal viewpoints on developments and industry trends in commercial real estate.
There were some significant milestones that took place this week. The 10-year bond hit 1.48 for the first time since Jan 2020, the Canadian dollar hit a three year high at $0.80/USD and a digital Lebron James trading card sold for $71,000. Yes, you read that right – it is a limited-edition virtual card that captures an individual NBA highlight. It took me some time to wrap my head around it too and to tell you the truth I am still unsure about the idea. There is just something about unpackaging a card set and chipping your tooth on an expired piece of gum from the 60’s that just can’t be replaced. Anyway, I just hope my 1919 Honus Wagner doesn’t lose its value from this new digital rival.
Rates and Curves
The last time we saw a change in yields this quickly was almost 1 year ago to the day in March 2020. Only this time, it’s in the opposite direction. The on-going fixed income selloff has sent yields sky rocketing! Before we quickly dive into some of the factors driving this dramatic and rapid change in yields here is where we currently stand over the last 30, 60 and 90 days.
What does this mean for you?
For real-estate investors, the precipitous move in rates could be seen as concerning but with the flexibility of First National’s early rate lock program you can mitigate your risks accordingly. To find out more information about this program contact your sales advisor today.
Thanks for reading and have a good weekend.
Neil
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