• U.S. equity markets rebounded to fresh record-highs heading into the Christmas holiday after governments in the U.S. and U.K. showed restraint in instituting more severe economic restrictions amid the recent COVID reacceleration.
• Bouncing back from an Omicron-driven sell-off and ending the week at fresh record highs, the S&P 500 rallied 2.3% on the week while Mid-Caps and Small-Caps each gained nearly 3%.
• Real estate equities were mixed as a strong rebound from "COVID-sensitive" property sectors were offset by pressure on technology REITs, but REITs remain the best-performing major asset class of 2021.
• Apartment REIT Bluerock Residential soared 70% after Blackstone announced it will acquire the small-cap REIT at a nearly 60% premium while fresh data showed that rents across the nation continue to soar at historic rates.
• On a busy week of last-minute holiday shopping and travel, housing market data brought some much-needed "cheer." New and Existing Home Sales climbed to their highest levels since early 2021 as the broader U.S. housing industry remains the "gift that keeps on giving."

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