Since this was recorded in March market expectations for rate cuts fell dramatically and have now moved up from the recent bottom. Clearly Fed policy continues to (in the short run) drive both the REIT credit and equity narratives.
Mark Streeter at J.P. Morgan shared insights into the real estate capital markets, noting the openness of capital markets to REITs in recent years and attributing that to the Federal Reserve’s messaging in this interview at Nareit's 2024 REITwise Conference. https://bit.ly/3WkwdG1