The top 20 hedge-fund managers oversee about 20% of industry assets but are responsible for an estimated 32% of industrywide net gains.

Meeting minutes from the Fed’s December policy meeting showed officials bracing for the possibility that the coming administration could usher in another spell of higher-than-expected inflation.

The stock market is pricing portfolios of American homes at a hefty discount to what houses are changing hands for in the open market. Shares of publicly traded single-family landlords are trading at 35% and 20% discounts to their net asset values.

Job gains averaged 186,000 a month in 2024. But 76% of the job growth in the past year has been in healthcare and education, leisure and hospitality, and government. In fields such as finance, information, and professional and business services, job growth has been far weaker.

Retail availability has fallen to record-low levels since the pandemic, thanks in part to a dearth in new store construction. Rent prices are climbing in many places.

The national vacancy rate for multifamily apartments reached 8% in the last quarter of 2024—higher than it was before the pandemic. Led by four and five star units over 11%, three star units above 7%, with one and two star units just over 5% vacant.

A Blackstone-led group will take more than two-thirds ownership stake in Citrin Cooperman, and Blackstone itself will hold an interest of 40% to 45% in the firm. The deal values Citrin Cooperman at more than $2 billion.

The spread between current coupon benchmark mortgage bonds and the yield of relevant Treasurys is currently between 1.3 to 1.4 percentage points. That gap has been unusually wide for a few years now, well above the sub-1 point gap seen back in 2019.

The national office-vacancy rate for primary markets ended 2024 at a record 20.4%. The delinquency rate of debt backed by office buildings converted into securities hit 11.01%—the highest since tracking began in 2000.

More than 1.6 million of those jobless workers had been job hunting for at least six months. The number of people searching for that long is up more than 50% since the end of 2022.