CMBX coupons have dipped an average of five basis pointss across the index, according to Royal Bank of Scotland analysts. This is given that shortfalls and losses rose higher in the capital structure.

For instance, RBS said that CMBX.5 saw the biggest average dip of 19 basis points versus average changes of 0.99 basis points, -5.5 basis points, -0.96 basis pointss and -0.89 basis points for CMBX.4 to CMBX.1, analysts stated.

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