Hurricanes dent CMBS demand in busiest month of the year
The CMBS market has softened this month as insurance companies pull back from the primary buying in anticipation of a heavy flow of hurricane related claims, leading to spreads widening as issuers bring a raft of new deals to the market.
Issuers brought $3.9bn of new CMBS paper across four deals this week, with a further $3.19bn of paper announced during the week. The busy week will more than double the monthly volume issued during the month, with $6.6bn sold before this week. Spreads however have softened.
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