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The deal is the eleventh this year for Pagaya AI Debt Selection Trust, and is slated to close by September 29.

Classes A, B, C and D have hard credit enhancement levels of 5.30%, 3.80%, 2.30% and 0.85%, respectively, higher than that of the CHAOT 2022-A.

The sponsor's assets favor software companies, and the deal brings its total CLO assets under management to $2.2 billion.

The JPMorgan Chase CEO's comments contrast with the consensus view after 5.25 percentage points of hikes that lifted the benchmark rate to 5.5% — the highest level in 22 years. Money markets are pricing in cuts from next year.

Purchases of new single-family homes fell 8.7% to a 675,000 annualized pace following an upward revision to July's figures, government data showed Tuesday, marking the largest drop in nearly a year.

Credit ratings were cut on the highest number of commercial mortgage-backed securities in "recent memory" last week, according to strategists at Bank of America Corp.

The deal will issue two series of notes, which benefit from a reserve account with approximately $1.4 million, representing about 2.0% of the initial bond balance.

After the salvo of central bank decisions last week, traders are increasingly concerned that rising oil prices risk fanning inflation, which will make it difficult for policymakers to reduce rates anytime soon.

A combination of economic and environmental factors are sending property and flood coverage premiums soaring, which can make costs insurmountable for some.

With a week left in its 2023 fiscal year, the Small Business Administration has already approved 12% more 7(a) loans than last year. Larger banks were among the biggest gainers as a result, according to the agency's latest data.