EFTA Document EFTA01437758

Deutsche Bank Markets Research North America United States Financial REITs Industry US REIT 3Q16 Earnings Preview REIT pullback & low bar could spark 3Q rallies, but don't get too excited House view remains constructive for REITs as fundamentals moderate Following a strong start to 2016 the REITs have traded off 10% since 8/1. The decline coincides with a 30bps rise in the 10-year yield and increasing probabilities of a Dec rate hike. While painful, the move has reset valuations,