BoyarMiller Capital Markets Breakfast Panel

• After recovering from the last recession, the stock market has leveled out and most stocks are ‘fully priced’; therefore cash is looking in other directions for deployment

Professional money managers such as pension funds, endowment funds, life companies, etc., are experiencing yields lower than planned, and are in some cases pushing funds into private equity in search of higher yields

• Although there are some faint ‘caution lights’ blinking in the financial markets, there are not any firm indications of recession…perhaps a flattening or slight downturn, but nothing serious

• Tariff wars are creating uncertainties and specific issues with some companies that are rippling through the economy; some companies and industries are starting to really hurt due to the president’s tariff wars

• The prospect of an out-of-control Washington is scary to all business decision-makers and tariffs are just one thing contributing to anxiety; how do you plan with extreme polarization?…although cooler heads usually prevail

Click to read more at www.rednews.com.

Global Market Perspective – 2019

1. Real estate market momentum slowing

The world economy has moved into a synchronised slowdown and geopolitical issues still abound. This is now filtering through to real estate markets; however, fundamentals remain healthy with momentum only easing gradually.

2. In a low-yield environment real estate still offers value

Returns for private real estate have remained stable during 2019 while public real estate continues to outperform other major asset classes at the global level. Government bond yields have declined further throughout the year, and real estate continues to offer a premium to most other asset classes despite yields being at record lows in many markets. The volume of capital held by funds that is yet to be deployed is near all-time highs and investors, though cautious and selective, remain keen to access the sector.

Click to read more at www.us.jll.com.

Consumers Not Abandoning Physical Retailers This Holiday Season

Retailers should expect a happy holiday season this year, at least according to a new report from Morning Consult. And that holds true for physical retailers, too, as the same survey found that many consumers plan to do most of their shopping at brick-and-mortar stores this season. According to Morning Consult’s 2019 Holiday Shopping Trends study, consumers are expected to increase their holiday spending this year, providing a boost to retailers that rely so heavily on end-of-the-year sales. Morning Consult said that 70 percent of U.S. consumers plan on spending at least $100 during the upcoming Black Friday weekend. The survey found that 52 percent of respondents say they are likely to shop during Cyber Monday, while 45 percent say they will shop on Black Friday. And even though online shopping gets most of the press, the Morning Consult survey found that 77 percent of Millennials said they are likely to go to shopping centers to find gifts. According to the survey, younger U.S. consumers are just as likely as older ones to shop in physical stores. What are these consumers planning to buy? Morning Consult said that 73 percent of respondents planned to buy clothing as a gift this year. A total of 77 percent said they plan on shopping at Walmart while 74 percent said they’ll buy online at Amazon. Those are the top two retail destinations, according to the survey. Click to read more at www.rejournals.com.

JC Penney Surges After The Retailer Reports A Narrower-Than-Expected Loss, But It Still Sees A Steep Sales Decline

J.C. Penney reported a narrower-than-expected loss for its latest quarter, sending its shares higher Friday morning. Its stock, which closed Thursday at $1.10, surged more than 22% at one point during premarket trading. It was up nearly 11% shortly before the opening bell. Here’s how Penney did for the quarter ended Nov. 2 compared with what analysts were expecting, based on Refinitiv data: Earnings per share: a loss of 30 cents vs. a loss of 55 cents expected Revenue: $2.38 billion vs. $2.51 billion expected Adjusted same-store sales: down 6.6% vs. a drop of 7.7% expected “The past quarter was an exciting and energizing time at JCPenney as we made significant progress on our efforts to return JCPenney to sustainable, profitable growth,” CEO Jill Soltau said in a statement. Click to read more at www.cnbc.com.

West Dallas Building Will Be One Of Area’s First Opportunity Zone Projects

One of Dallas’ first Opportunity Zone developments will be a new self-storage center west of downtown Dallas. Central Southwest Texas Development LLC is building the project on Lone Star Drive near Interstate 30 in West Dallas. The 141,950-square-foot self-storage center will be on a 2.4-acre site that is in one of the more than a dozen federally designated Dallas Opportunity Zones that qualify for special tax breaks. New businesses and investments in the targeted census tracts get deferred capital gains and other beneficial tax treatment. Click to read more at www.dallasnews.com.

City To Work With Capital Metro On Financing New Broadmoor And McKalla Place Rail Stations As Development Boom Looms

The city of Austin expects the areas around the Broadmoor Campus and McKalla Place—the site of the new Austin FC stadium—to be primed for dramatic increases in development and subsequently heightened demand for transportation. City Council acknowledged that looming boom Nov. 14 when it directed City Manager Spencer Cronk to work with the city’s public transportation authority, Capital Metro, to help finance the completion of new rail stations in the two areas. Last year, City Council greenlit the first phase of a massive, 20-year, phased mixed-use development at the 66-acre Broadmoor Campus, an area currently occupied by the IBM campus. Plans for the area include at least 2,000 housing units and buildings reaching 360 feet tall. The area has been referred to as Austin’s future second downtown. The developers agreed to help relocate the Kramer Lane MetroRail station to the Broadmoor Campus. Click to read more at www.communityimpact.com.