Wednesday, November 19, 2008

CMBS Market Not Pretty

While I didn't think buying troubled assets made sense, Hank Paulson's TARP flipflopping is a major contributor to the widening of the CMBS spread:

CMBS Market Begins to Show Fissures ("WSJ")

CMBS: This is no cave ("Accrued Interest")

The CMBS Crash ("FT Alphaville")

Big CMBS Loans Near Default; CMBX Soars, REITs Tank ("Seeking Alpha")

Good News! Only $6 B. in Big CMBS Loans To Mature in '09 ("The New York Observer")

CMBS Market Shows Distress as Default Fears Rise ("Market Watch")

Commercial Loans Are Looking Risky ("WSJ")



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