Along with global property stocks, Asia Pacific real estate stocks continued their downward slide in November 2016; the property sector was dragged down by the results of the US presidential election and subsequent concerns of higher interest rates. Unlike past months, when the concerns of higher interest rates remained mere concerns, November witnessed a quick uptick in the US Treasury 10-year bond yield following the election, with the yield jumping 56 basis points, from 1.82 percent to 2.38 percent, during the month. In general, this once again showed how yield sensitive listed property stocks have become after such a long period of ultra-low yields — hence, the partial unwind of the alternative-yield trade. For the month, the Asia Pacific region was down 3.4 percent, which was slightly inferior to global property stocks (–2.7 percent). Of note, global property stocks have posted negative returns for four consecutive months as at the end of November 2016. Given the strong sum