UNITED STATES

摘要

New conduit CMBS deals this week have had to benchmark levels against Deutsche Bank's US$1bn COMM 2015 print last week, which saw its Triple B tranche price at roughly three-year wides. Despite improving sentiment, investors said, Deutsche's deal has re-priced the market, even as secondary liquidity has improved in CMBS and corporate bond spreads have tightened. "It is a weak market overall, but the Deutsche deal didn't help and has pushed things wider," said Richard D'Albert, co-chief investment officer at Seer Capital.