JPMorgan might have priced its $1.3 billion, new-issue conduit CMBS called JPMCC 2012-CBX tighter than initial price talk. However, this deal will not be enough to boost issuance up to volume levels predicted at the start of 2012, FTN Financial analysts said in a report this week.

Kevin Howell, an FTN CMBS analyst, said that the updated forecast for CMBS volume is now $27 billion. "I would say that the main factor slowing down volume growth this year has been the increased spread volatility and the lack of an effective hedge for issuers," he said in an emailed statement to ASR.

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