You didn't miss much. Mostly a lot of concern and disbelief over S&P's comments a few weeks ago regarding downgrades to the AAA stack. Especially IOs - heavy selling coming soon from insurance portfolios?? Insurance companies average about 10.1% of their CMBS portfolios in Support and PAC IOs.
Also some talk about the guidance on new issue TALF, with some looking for a dozen new issue deals by year end, starting in August. These will likely all be single borrower and large loan deals - we're likely to see a resurgence in the large loan fixed deals that have been dormant in recent years after being replaced by the Pari Passu structures seen in Conduit/Fusion.
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