Good afternoon and welcome to Markets Desk, your midday read on the stories moving money and markets right now.
The eVTOL sector is under renewed pressure today, with Archer Aviation and Joby Aviation both facing headwinds from certification delays and mounting cash burn concerns. These are long-duration bets on urban air mobility, and right now the market is repricing the patience required to get there. Investors treating them as near-term plays are learning a hard lesson about runway risk.
Turning to fixed income and retirement planning, multi-year guaranteed annuities are drawing fresh scrutiny. MYGAs offer predictable yields outside equity markets, but buyers are being warned that the headline rate is only part of the story. Insurer financial strength, surrender penalties, and liquidity restrictions can quietly erode what looks like a competitive deal on paper.
And on the dividend front, three real estate investment trusts reported strong quarterly earnings and raised full-year guidance. Realty Income, Empire State Realty Trust, and Ryman Hospitality Properties all delivered, signaling that select corners of the REIT space are holding up better than the broader rate environment might suggest. Guidance raises at this stage of the cycle carry real weight.
That's the tape. Markets Desk, signing off the floor.
