The CRE Weekly Digest by LightBox

If hotter inflation, falling Treasury yields, growing anxiety over AI debt, and still-stronger deal flow feel contradictory, that's because they are. In Episode 119 of The CRE Weekly Digest by LightBox, hosts Manus Clancy and Dianne Crocker unpack a week when markets seemed to stop behaving as expected.  

With CPI climbing 3.7% year over year, PPI surging 1.3% in a single month, and the 10-year Treasury briefly topping 5.3%, th...

Commercial real estate may finally be singing the blues. Stocks are hitting records on AI optimism, but the 10-year Treasury is hovering around 5.3%, near a 24-year high. CREFC's board survey shows CRE finance sentiment at its lowest level in three years, and the signs of strain are piling up. Buyers are retrading as rising rates are putting fresh pressure on financing, dealmaking, and market confidence. 

In Episode 118, Manus ...

In the first episode of Q4, Manus Clancy and Dianne Crocker tackle a market that keeps defying a consistent narrative. The 10-year Treasury is now hovering around 5.3%, its highest level since 2002, even as data that would normally ease pressure on bond yields has done nothing to slow what Manus calls a "runaway train."  

The hosts break down the conflicting signals shaping the market, from cooler inflation, softening consumer ...

The 10-year Treasury is back above 5%, refinancing pressure is building, and commercial real estate is entering a critical stretch. In Episode 116 of The CRE Weekly Digest, Manus Clancy and Dianne Crocker break down what the week's sharp rate volatility means for borrowers, particularly with nearly $300 billion in multifamily debt coming due in 2026. 

Reporting from the CREW Network Convention in Miami, Dianne shares what she's...

The Fed served up “peas and carrots” this week with a unanimous 12-0 vote to raise rates 25 basis points, plus a telling warning from Chair Warsh that more tightening could follow.  The 10-year Treasury briefly crossed 5%, stocks whipsawed through the week, and markets struggled to make sense of another volatile week. Meanwhile, August retail sales surprised to the upside, rising 1.2%, a modest but real sign that c...

Higher-for-longer rates are no longer a temporary condition. With the 10-year Treasury at 4.85%, refinancing costs elevated, and expectations for multiple 2026 rate cuts fading, commercial real estate investors are learning to operate in a market where waiting for cheaper capital may no longer be a strategy.

This week, Manus Clancy and Dianne Crocker are joined by Jeff Brown, Founder, CEO and Co-CIO of T2, a bridge lender and invest...

The 10-year Treasury is pushing toward 4.8%, oil prices are keeping inflation pressure alive, job growth is weakening, and markets are pricing in a September rate hike. It’s hardly the backdrop CRE investors hoped for heading into the fall. Yet so far, the market hasn’t seized up. In this week’s CRE Weekly Digest, Dianne Crocker and Manus Clancy ask whether the industry is simply getting better at operating in a w...

The bond market once again set the tone this week as the 10-year Treasury hovered around 4.7% despite the Treasury Secretary's expanded buyback program, a move that barely moved the needle before yields snapped back. Add in a hotter-than-expected PCE reading, weakening consumer confidence, and a 10.5% drop in new home sales and the Fed faces no easy choices heading into September. 

This week, Manus Clancy and Dianne Crocker unp...

This week, the economic data did everything right: cooler inflation, softer retail sales, weak job growth, the kind of numbers that should have sent bond yields lower. Instead, the 10-year Treasury spiked to 4.75%, the 30-year hit a 19-year high, and oil pushed past $90 a barrel as the Iran conflict threatened to escalate. Equities, meanwhile, partied on to record highs. Hosts Manus Clancy and Dianne Crocker unpack the "paradox of ...

A disappointing jobs report, stubborn energy prices, and a 10-year Treasury yield near 5% are putting commercial real estate’s momentum to the test. Yet despite the pressure, deals are still getting done. 

This week on The CRE Weekly Digest, hosts Manus Clancy and Dianne Crocker discuss why a Fed rate hike would do more harm than good, and why the 5% 10-year Treasury threshold may prove an even bigger psychological and fi...

Just when investors were beginning to price in a more optimistic outlook, markets found new reasons for confidence. Hopes for a shipping agreement in the Strait of Hormuz helped push stocks to fresh highs, oil prices eased modestly, and Treasury yields backed off recent peaks. But with no peace agreement in place, the road ahead remains anything but settled, and commercial real estate is telling its own, more cautious story. 

I...

For months, the question was: When will the Fed cut interest rates? Now investors are asking if rates might go in the opposite direction. Co-hosts Manus Clancy and Dianne Crocker unpack a week filled with market-moving headlines, including the divided Fed decision, Treasury yields near 2026 highs, stubborn inflation, and a surprise GDP miss. Leaning into the mix of market signals, Manus makes a case for why this moment doesn't exac...

Just a few weeks ago, market optimism was building around a second half of 2026 that would deliver easing inflation, lower Treasury yields, and stronger commercial real estate activity. Instead, the war in Iran shows no signs of resolution as fighting resumed, oil surged back to $100 per barrel, and the 10-year Treasury yield spiked to 4.68%, raising fresh questions about the commercial real estate market's ability to maintain the ...

This week on the CRE Weekly Digest, hosts Dianne Crocker and Manus Clancy once again dial into a mix of conflicting signals. Renewed conflict in the Middle East pushed oil prices back up and the 10-year Treasury toward spring highs, even as a cooler-than-expected CPI report offered a brief reprieve. Commercial real estate investors were reminded that hopes for lower interest rates remain just that: hopes. Meanwhile, strong earnings...

Just a week after building a bullish case for the second half of 2026, the market narrative shifted dramatically. Treasury yields climbed back above 4.5% as geopolitical tensions reignited in the Middle East, the AI equities trade went from rally to rout in a matter of days, and investors were once again left questioning the forecast.

Join Manus Clancy and Dianne Crocker as they unpack what changed, including a surprisingly weak job...

The first half rewrote the script for 2026. Now the question is whether commercial real estate can keep outperforming expectations.

In this special Fourth of July episode, Manus Clancy and Dianne Crocker sit down for their mid-year reckoning of a year that has not gone according to script. The January playbook, built on rate-cut optimism and cooling inflation, was obsolete by February, replaced by war in the Middle East, a 75-basis-...

Markets spent another week proving that nothing is straightforward in 2026. Oil prices retreated close to pre-war levels, the 10-year Treasury eased to roughly 4.37%, equities rebounded sharply, and manufacturing climbed to a multi-year high. At the same time, the latest inflation reads came in hot and peace negotiations are ongoing.   

If someone had handed you a list of H1 2026's headlines in January — oil spiking ...

This week’s CRE Weekly Digest opens at a potential turning point. When the episode was taped, markets were rallying on hopes for a U.S.-Iran breakthrough. By the next day, an interim peace agreement had been signed, kicking off a 60-day period of negotiations on a final deal to end the war. That leaves the market trying to decide whether relief has finally arrived, or whether optimism is getting ahead of reality.

Manus Clancy ...

Markets felt stuck in a familiar loop this week. Inflation climbed to its highest level in three years, Treasury yields pushed higher, geopolitical tensions in the Middle East resurfaced, and investors once again found themselves debating what comes next for rates, growth, and risk. Yet beneath the headlines, commercial real estate continues to show surprising resilience. 

Manus Clancy and Dianne Crocker unpack the latest econo...