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March's Consumer Price Index (CPI) threw cold water on investors' hopes that the Fed would cut rates three times in 2024. Where inflation data from both core and non-core readings came in higher than expected, it suggested that the Fed may have trouble meeting its goal of bringing annual inflation down to 2%. As a result, stocks sold off and interest rate-sensitive real estate investment trusts (REITs) were hit hard. Dividend yields for many REITs have fallen to 0.5%.

Goldman Sachs' First Quarter Performance Boosted by Strong Wall Street Performance

Goldman Sachs said Monday that its first-quarter profit rose by double digits, buoyed by the general performance of the stock and bond markets in the first few months of the year. Goldman Sachs has struggled through much of 2023, as higher interest rates have prevented the firm from making deals and acquisitions. The New York-based investment bank reported a profit of $4.13 billion, up 28% from a year earlier.
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