In the U.S.: The U.S. and Mexico reached new trade agreement that would scrap the NAFTA name and call it the US-Mexico trade agreement. Although Mexican President Enrique Peña Nieto urged the U.S. to work on a trade deal with Canada, the White House and Canadian leaders were unable to come to an agreement. REIT Focus: Brookfield Property Partners LP (BPY) announced the completion of its acquisition of General Growth Properties (GGP). In connection with the closing, Brookfield Property REIT (BPR) was created as a public security that is intended to offer economic equivalence to an investment in BPY. In China: Following a week of little progress on the trade front, S. President Donald Trump has stated that he wants

In the U.S.: As expected, the US started to impose additional 25% tariffs on 279 Chinese import products worth $16B, which includes semiconductors, chemicals, and plastics. China quickly retaliated with its own new tariffs on $16B worth of imports from the US, including fuel, steel products, autos and medical equipment. Fed Chairman Jerome Powell stated that the current path of gradual rate hikes is likely appropriate if strong economic growth continues. He added that the economy is “strong” and can handle more normalization of policy. REIT Focus: Pebblebrook Hotel Trust (PEB) increased the terms of their offer for Lasalle Hotel Properties (LHO). The new proposal increases the number of LHO shares that can receive cash to 30%, a 50% increase

In the U.S.: Via twitter, President Donald Trump suggested that he will have the SEC look into changing the quarterly reporting cycle for public companies to a six month system. President Trump stated that the move would allow greater flexibility and save public companies money. In earnings, 465 companies in the S&P 500 Index have reported, 83.8% beat, 0.6% were in-line, and 15.6% missed estimates. REIT Focus: Bloomberg reported that MedEquities Realty Trust, Inc. (MRT) is considering a sale, according to people with knowledge of the matter. The company owns 33 acute-care hospitals, skilled nursing facilities and other types of health-care facilities in six states including California, and Texas. In REIT earnings, 111 companies in the Wilshire U.S. REIT Index

In the U.S.: USTR announced on Tuesday that the U.S. will impose 25% tariffs on $16B of Chinese imports beginning on 23-Aug.The tariffs, which mainly target industrial goods, were widely expected. China has vowed to retaliate. In earnings, 376 companies in the S&P 500 Index have reported, 83.5% beat, 0.7% were in-line, and 15.8% missed estimates. REIT Focus: The Paramount Group, Inc. (PGRE) to sell 2099 Pennsylvania Avenue in Washington DC for $220M. a 12 story, 208K sq. ft. class A office building. Albert Behler, CEO of PGRE, commented on the deal stating “Since our IPO, we have been creating value at 2099 Pennsylvania Avenue by increasing leased occupancy to 98.5% from 31.6%. With this sale, we are harvesting that value.” In REIT earnings, 111

In the U.S.: The Fed kept interest rates unchanged.Following the meeting the Fed stated that “the labor market has continued to strengthen and that economic activity has been rising at a strong rate. The Fed is expected to raise rates two more times this year. July nonfarm payrolls fell to 157K versus June’s upwardly revised 248K.The unemployment rate of 3.9% was in line with consensus, ticking down 0.1% m/m. In earnings, 402 companies in the S&P 500 Index have reported, 84.6% beat, 0.7% were in-line, and 14.7% missed estimates. REIT Focus: Brookfield Asset Management Class A (BAM.A) and Forest City Realty Trust Class A (FCE.A) announced a definitive agreement whereby Brookfield will acquire all outstanding common shares of FCE.A for $11.4B