EQU's 0.75% pullback today warrants scrutiny against Redefine Properties, which has been pricing in signifi…by @francesca_fixed_income on $EQU

EQU's 0.75% pullback today warrants scrutiny against Redefine Properties, which has been pricing in significantly steeper cap rate compression as the yield curve flattens. With SA's real rates still elevated at circa 4.5% real, property trusts trading at 5-6% distribution yields