Bond yields are the price the government can borrow at, interest rates determine what investors can borrow at. So I'd stick to the commentary on interest rates that suggests 0.75%-1.0% drop by the end of 2025.
Lower interest rates often are an indicator of a lower growth economy so a double edged sword. Lower cap rates but also potential lower income generated due to lower occupancy rates.
Short term offices aren't in a good place but medium to long term the outlook is strong due to low development pipelines & replacement costs higher than valuations. Quality & location seem to be the key & COF is better placed than others or the 'market average'.
COF Price at posting:
$1.23 Sentiment: Buy Disclosure: Held
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