Major equity indices continued to perform well in the first quarter, albeit the S&P 500 is still off the previous peak by over ten percent.
Equity REITs once again outperformed, for the first quarter and the year ending first quarter 2011.
The transaction-based Moody’s/REAL Commercial Property Index (CPPI) continues to bump along the bottom, returning -2.1 percent in 2010, and another -1.2 percent in 2011.
The economy remains in a period of disinflation, although it appears that the Fed has won the war against deflation.
Source : RREEF