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Construction activity in smaller cities also saw a significant annual decline, according to the National Association of Home Builders.

Investors can get equity-like returns by investing in short-term publicly traded bonds, which are generating yields of 6% to 8%, Pacific Investment Management Co. executives said.

The Berkshire Hathaway unit first invested in the underwriter in May 2022. Previously it was wholly owned by Realogy.

The deal will issue two series of notes, 2023-1 and 2023-1 from the master trust. Both series will issue classes A and B notes, but in both cases only the class A notes will be publicly offered.

Roughly one in two people who work in finance would change jobs —  or already have — if their managers required them to spend more time in the office, according to a new survey.

The Consumer Financial Protection Bureau issued only 20 enforcement actions in 2022, but some observers say the enforcement numbers belie the results that director Rohit Chopra is getting from other ways of holding companies accountable.

Miracle Mile Shops have significant tenant lease rollover, with 53.7% of the mall's net rentable area (NRA) and 66.1% of its base rent scheduled to roll over during the five-year term of the notes.

They are bullish on equities in Japan, Taiwan and South Korea and recommend an overweight position in developed-market government bonds, including long-dated Treasuries

The deal has a 9.25% discount rate on the yield supplement overcollateralization amount (YSOA), a, liquidity risk mitigation tool, which is significantly higher than the 4.00% from the 2021-1 transaction.

CLO spreads should tighten toward year-end, easing arbitrage challenges. Meanwhile investors will be challenged to calibrate the recovery rate, says Pratik Gupta.