The week long rally driven by the IRS guidance initially, and later buoyed by announcement that the NAIC would accept Realpoint as a rating agency, stalled on Friday. Demand also faded for all the REIT IPOs that were planning to target distressed commercial real estate debt.
Investors know that a number of headline making defaults are in the pipeline for the fourth quarter of this year, and are taking profits off the table in the current rally.
Sam's Club Abruptly Closes 63 Stores
4 days ago