Credit Suisse First Boston's sale of about $1.1 billion of commercial mortgage-backed securities was very warmly received by the market last week, as it was the first instance in recent times when investors saw the five-year to 10-year spread break the dime barrier relative to swaps.

The five-year triple-A tranche priced at Swaps plus 30, and the 10-year at Swaps plus 39.

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