Tag Archives: SXBQT
I’m picking up a buzz of signals warning that an important stock market top is near. The latest: A climactic burst of buying in the REIT sector.
As you know, I’ve long been a fan of real etstate trusts. However, it makes me uncomfortable that so many yield-hungry investors are piling into the sector at seemingly any price. REIT valuations are becoming stretched — the likely prelude to a serious “correction.”
Need another reason to be cautious on the near-term outlook for stocks? Take a look at what’s happening in Asia. After Tuesday’s rollicking rally on Wall Street, Asian stock markets fizzled Wednesday. Of the 15 major Asian markets, eight fell, including the two leaders, Japan and Hong Kong.