PGIM's Bryan McDonnell on 2027 Real Estate Credit Market

Bryan McDonnell, Head of Real Estate Credit Strategies at PGIM, says investors should adjust business models to a higher-rate environment rather than count on rates falling. He describes the market's recent uncertainty as a gap between rate expectations and reality, with Treasury yields rising above 5% after expectations briefly converged around 4%. He speaks with Romaine Bostick & Jess Menton on "The Close."