Minneapolis Fed President Neel Kashkari remains undecided about supporting a rate cut at the Federal Reserve's December meeting. "I can make a case depending on how the data goes to cut, I can make a case to hold, and we'll have to see," Kashkari said. Similarly, San Francisco Fed President Mary Daly said it would be "premature" to decide what to do.

The FTSE EPRA Nareit Developed Extended Index was down 2% in October, with Europe, North America and Developed Asia each seeing declines. The declines were concentrated near the end of the month and were connected to news that the Federal Reserve might be reconsidering the case for additional interest-rate cuts. "On a year-to-date basis through Oct. 31, the Developed Extended index is up 8.4%, led by Asia with a total return of 25.6%, Europe at 18.2% and North America at 3.2%," writes Nareit's John Barwick.

US and Swiss officials are close to a trade deal that would reduce the 39% tariffs that President Donald Trump imposed on Swiss imports. The deal also aims to address the trade surplus that Switzerland has with the US. Swiss Economy Minister Guy Parmelin says that talks between the two countries have been positive and that further communication will occur once details are finalized.

President Donald Trump is preparing certain tariff cuts and new trade deals to address high food prices. The administration has announced framework agreements with Argentina, Guatemala, El Salvador and Ecuador to reduce tariffs on items such as beef, bananas and coffee beans.

REITs demonstrated solid performance in the third quarter, with funds from operations rising 17.3% year over year to $21 billion and net operating income increasing 5.2% to $30.6 billion, according to Nareit. REITs maintained resilient balance sheets with low leverage ratios, and 88.7% of listed REIT debt was at a fixed rate.

US convertible bond sales have reached a record $108.7 billion in 2025, surpassing the $105.6 billion raised in 2020 during the pandemic. The convertible bond success comes amid a market that includes high stock volatility and persistent 10-year US Treasury yields above 4%.

Electra USA has signed a lease for 25,331 square feet under a 10-year term at SL Green Realty's 10 East 53rd Street in New York City. The property is now fully leased, according to SL Green's Steven Durels.

Netflix has launched its first permanent retail and entertainment unit at Simon's King of Prussia mall in Pennsylvania. The new venue -- in space previously occupied by Lord & Taylor -- includes a movie theater, a shop with Netflix merchandise, a mini-golf course and other features. Separately, Macerich recently detailed how Dick's House of Sport opened at the former site of another Lord & Taylor at Freehold Raceway Mall in New Jersey.