A surge in the Japanese Yen is resulting in home repatriation of Yen-funded positions overseas, and close-out of Yen-funded positions abroad. While Google was found guilty of home bias anti-competitive search engine behavior, any judicial remedies could be as bad for recipients of Google’s shelf space payments as they are for Google itself. Work-from-home trends have plateaued at ~30%, which has important implications for owners of impaired office buildings. Most distressed sales now require discounts of 60%+ vs pre-COVID levels; the fundamentals of the office sector explain why. Watch the Podcast Descriptive audio Good afternoon, everybody. This is the August Eye on the Market. And this one's Eye on the Market is There's No Place Like Home. That has two meanings as it relates to what we're talking about in the Eye on the Market this time. One of them obviously has to do with the repatriation of Japanese yen funding and unwinds by Japanese investors and global hedge funds.And then the...
