In the U.S.: The ongoing clash of words between President Trump and North Korea’s Kim Jong Un reached a fever point this week, with directed threats of war coming from both sides. While both sides seemed intent on increasing the destructive rhetoric, the countries surrounding the Korean peninsula urged for more peaceful diplomatic efforts. In earnings, 454 companies in the S&P 500 Index have reported, 78% beat, and 22% missed estimates. REIT Focus: Invitation Homes (INVH) and Starwood Waypoint Homes (SFR) announced a stock for stock merger. The combined company, which will operate under the name Invitation Homes, will be the premier single-family rental company in the United States. There was a sharp sell-off of US department store chain stocks

In the U.S.: July nonfarm payrolls increased 209K following June’s upwardly revised 231K reading. The payroll reading was in-line with the current labor trend and is not expected to affect the current Fed tightening cycle. Unemployment reached a 16 year low of 4.3%. In earnings, 419 companies in the S&P 500 Index have reported, 77 % beat, and 23% missed estimates. REIT Focus: Spirit Realty Capital, Inc. (SRC) announced plans to spin off certain assets and liabilities into a separate publicly traded REIT. The new REIT would be externally advised by the SRC management team, which is seeking to deleverage and remove impediments of its Shopko assets. Shares of SRC rallied on the news. In REIT earnings, 89 companies in

In the U.S.: Q2 GDP increased by 2.6% annualized rate versus Q1’s downwardly revised 1.2% reading. An increase in personal consumption expenditures was the main catalyst to the strong GDP result. The Senate bill to repeal the Affordable Care Act (ACA) was voted down after three republican senators voted to defy the republican establishment. The failure of the bill could be an opportunity for the Senate to work together on a bipartisan bill that could fix the current issues with the ACA. In earnings, 284 companies in the S&P 500 Index have reported, 77.5% beat, and 22.5% missed estimates. REIT Focus: In Q2, DDR Corp. (DDR) sold two shopping centers in Puerto Rico for $57.3M in 2Q, and nine shopping

In the U.S.: The US and China failed to reach trade agreements on most key issues. The trade talks were likely hindered by the increased pressure on China to open up its markets further and the trading relationship with North Korea. The Health Care bill to repeal Obamacare did not receive the necessary votes to pass the senate. Following the news, President Donald Trump invited members of the senate to a white house lunch where he mounted pressure on the senators to pass the legislation. Unfortunately for President Trump, both versions of the bill remained very unpopular and are unlikely to pass if a vote is held next week. In earnings, 96 companies in the S&P 500 Index have reported,

In the U.S.: June CPI was unchanged m/m versus a 0.1% m/m decline in May. The data fit in with recent trend of softer inflation readings that Fed has largely chalked up to idiosyncratic factors. Fed Chair Yellen did note this week there is some uncertainty about how much inflation will respond to tightening resource utilization. REIT Focus: Rexford Industrial Realty acquired 3 industrial properties in Southern California in 3 separate transactions for a total of ~$71.5M. The acquisitions were partly funded by the disposition of a single-tenant industrial property in Santa Ana for ~$18.7M. In China: June exports jumped to 11.3% y/y versus May’s 8.7% y/y reading. Imports also rose to 17.2% y/y versus May’s 14.8% y/y reading. The