Inflation is back in the group chat, and this time it brought crude oil and a chair.
Oil is not just a commodity this morning. It is the entire personality of the market.
Crude’s surge is pressuring inflation expectations, mortgage rates, and risk appetite all at once. Asian markets opened weak, mortgage rates are back near six-month highs, and Friday’s payrolls report now matters even more because the Fed is stuck between sticky inflation and softer growth. ()
In real estate, the message is clear: capital still moves, but only for stories that actually cash flow. That is why sectors with durable demand are still getting funded while weaker deals get exposed.
Today’s briefing…
The skinny
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