397. What the Fed Is Really Watching, CRE’s Consolidation Wave, Why Retail Is Winning, the LA Mansion Tax Backfire & AT&T's Move to Plano

In this week's episode of The TreppWire Podcast, we unpack a sharp Treasury repricing that pushed the 10-year past 4.5% and what it means for the CRE recovery. We also cover consumer warning signs from Costco, the underwhelming results of LA's mansion tax, Google and Blackstone's new AI cloud venture, and the Ares-Scion $910 million student housing portfolio deal. In our 101 segment, "Dancing with the Stars," Stephen breaks down the Fed's hidden benchmarks (R*, U*, Y*, Pi*) and how they shape rate decisions. We also dig through the data on retail originations, cover the Equity Residential and AvalonBay's $52 billion mega-merger, and run through trading alerts on 20 Times Square, 2 Manhattan West, and AT&T's new Dallas headquarters. Tune in now.

Episode notes:

• Economic Update: Treasury Repricing, the 4.5% CRE Threshold and Costco Consumer Signals

• Google & Blackstone AI Cloud Venture

• Ares & Scion Launch JV For Student Housing Portfolio

• 101 Segment: Hidden Fed Benchmark

• Digging Through the Data: Retail Originations by Subtype

• AvalonBay & Equity Residential $52B Merger

• Trading Alerts: 20 Times Square, 2 Manhattan West, AT&T Dallas HQ

• Programming Notes

• Shoutouts

Questions or comments? Contact us at podcast@trepp.com.

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