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How low can Reits go?

How bond market pricing techniques can be applied to Reit valuation

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Distributions from a Reit can reasonably be regarded as an annuity that lasts forever because leases on some Reit properties expire only in our children's lifetimes. For example, the lease on Tampines Mall (above), owned by CapitaLand Mall Trust, runs out only in 2091, or 75 years from now.

Fair is foul and foul is fair:
Hover through the fog and filthy air.
- Macbeth, William Shakespeare

IT has been a strange year where investors piled into certain stocks for their bond-like yields, while trading bonds for stock-like gains.

But with US long-term

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