Friday, August 7, 2009
Move Along - Nothing to See Here ...
CMBS AAA spreads continue rallying strong going into next week where we have two CDO liquidations, both with CMBS collateral (both with AJ collateral, and one with significant AM colalteral).
Further down in credit is also starting to rally, but much less so, and trailing the AAA rally.
The CRE news flow has trickled to just a few drops and is mostly about funds starting up to buy "distressed debt" of various flavors, hardly any negative news.