The market has already priced in an imminent move.

Companies have a lot of free cash now. That provides a big buffer.

We're slightly positive on the bond market for now. A rate move is priced in for June but people have given up on the idea of getting anything earlier.

There's no question the market got overheated, ... It's just getting more rationally priced.

Supply is there, so if apartments are priced at market level, they are selling. If they're priced above market, they're not even getting shown.

If the market begins to expect a more imminent end to the Fed's tightening cycle that would certainly remove the interest rate support for the dollar,