Despite the potential for volatility ahead of the Federal Reserve’s September meeting on interest rates, CMBS spreads were stable last week, according to research published Friday by J.P. Morgan.

At the top of the capital structure, spreads on benchmark legacy A4s tightened by 3 basis points to swaps plus 163 basis points, while 10-year, new issue triple-A spreads were unchanged, at swaps plus 100 basis points.

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