Rates, hedges and REIT moves
Fed Governor Stephen Miran said rate cuts are still on the table and could total “about a point” this year — comments published March 30 that helped push treasury yields under 4% as investors sought safety (cnbc.com) (markets.financialcontent.com). Meanwhile, Stoneweg extended a €160 million interest‑rate hedge to November 2028 and OUE REIT is eyeing asset sales to fund Sydney growth — signals that REITs are actively managing rate risk and redeploying capital (marketscreener.com) (businesstimes.com.sg). UH REIT also reported a jump to N18.2 billion profit for 2025, underscoring pockets of strong earnings in the sector (nairametrics.com).
Fed Governor Stephen Miran spoke on CNBC’s “Squawk on the Street” on March 30, appearing the same day markets shifted around Fed policy expectations. (msn.com ) The benchmark U.S. 10‑year Treasury yield briefly fell to about 3.92% on March 30 as traders moved into Treasuries amid a flight‑to‑quality, according to MarketMinute coverage of the day’s bond action. (financialcontent.com ) Stoneweg Europe Stapled Trust’s recent hedging actions have left the trust with roughly 94% of its interest exposure hedged for nearly two years, a level the manager says raises visibility over interest costs. (reitsweek.com ) The trust’s investor filing frames the move as downside protection for distributions and confirms the size of the program tied to the €160 million notional hedge, with updated debt and hedging profiles disclosed in the March 30 notice. (stonewegeuropestapledtrust.com.sg ) OUE REIT completed a strategic entry into Sydney by acquiring a 19.9% interest in Salesforce Tower for A$357.2 million, a deal the manager projects will be DPU‑accretive by about 0.9%. (prnewswire.com ) As part of the same capital‑recycling discussion, OUE’s managers are gauging market interest for One Raffles Place at an expected S$2.3–2.4 billion, a sale the Business Times says would cut the trust’s income by roughly 30% but free capital to cut debt (current blended cost ~3.9% p.a.) and redeploy into higher‑yield assets. (businesstimes.com.sg ) UH Real Estate Investment Trust reported total comprehensive income of N18.2 billion for 2025, up from N1.045 billion a year earlier, with the company attributing the surge mainly to revaluation gains on investment properties in its audited results. (nairametrics.com )
