---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000877940.md"
description: "Iggy's Journal: The Fed Chair's Jackson Hole Speech Just Picked a Side Between Banks and REITs31 August 2026, AMOvernight Read:US markets were closed over the weekend, so what follows is Friday's session, the most recent completed close. Wall Street pulled back modestly, Dow down 0.02% to 53,559.99, S&P 500 down 0.25% to 7,711.76, Nasdaq down 0.52% to 26,402.42. The driver was Fed Chair Kevin Warsh's keynote at Jackson Hole, a firmer-than-expected line on inflation that pushed back on near-term rate cut hopes and lifted the 10-year Treasury yield to 4.70%, which is exactly the kind of move that pressures rate-sensitive growth names. Back home, ACRA data for the first seven months of 2026 showed business closures up 12.8% year on year to 38,146, driven heavily by 2,127 construction firm closures, while new registrations still outpaced that at 49,305, led by a 26.7% jump in info and communications firms. And ComfortDelGro confirmed it's submitted a joint venture bid with RATP Dev for the Copenhagen Metro rail operating contract, tender results still pending.My Personal Take:The Business Times framed Warsh's hawkish turn as favouring banks over struggling S-REITs, and I think that's the right lens for today, not a hot take. Higher-for-longer Treasury yields generally help bank margins and hurt REIT valuations, which are priced against exactly that benchmark rate. Worth watching how DBS, OCBC, and UOB trade against how the REIT names on my coverage list trade this week, since a genuine divergence here isn't noise, it's the mechanism actually working as expected.On ComfortDelGro, I want to flag this now rather than after the fact. This is a bid, not a win, so nothing changes about my Zone 4 gearing call today. Not financial advice. Iggy's Forensic Compliance Standards apply.Cheers, Iggy 🦖"
datetime: "2026-08-31T00:13:50.000Z"
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  - [en](https://longbridge.com/en/topics/100000000877940.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000877940.md)
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author: "[TheInvestingIguana](https://longbridge.com/en/profiles/22116548.md)"
generator: "portal-rs"
---

# Iggy's Journal: The Fed Chair's Jackson Hole Speec…


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## Comments (3)

- **Louis_t · 2026-08-31T03:33:28.000Z**: cme had a hike to 3.75-4 near 56% right after he spoke, so this is a step past no cuts.
- **Bluegate1104 · 2026-08-31T02:06:38.000Z · 👍 1**: one sector quietly benefits every time the other one gets squeezed, feels like the pattern lately 👀
  - **TheInvestingIguana** (2026-08-31T02:27:18.000Z): Good catch, and yeah, it's really just one number doing two jobs at once. Yields went up after Warsh's speech, and that same yield is what makes REITs look worse and banks look better, so the "squ


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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**