Rate sensitive names

The rate-sensitive names have catapulted higher over recent weeks, with the Real Estate Sector already up +24% from its November low. While this group is already challenging our initial 1500 target area, we see further upside. However, the “easy money” is already in the rearview mirror, especially with bond yields having already reversed significantly lower.

• We are still bullish on the real estate stocks, but some consolidation looks likely in the coming weeks.