Within the CMBS marketplace, 10Y AAA CMBS now appear cheap vs. AA, A and BBB classes due to the flattening of the yield curve. However, 10Y AAA CMBS still remain -1.62 standard deviations rich to 5Y AAAs with only a one bp spread differential between the 5Y and 10Y AAA classes. The best relative value within the CMBS market can be found within those sectors with mispriced’ optionality. To wit, despite the relative cheapness of new-issue 5Y AAAs and the tightening in PAC IOs, continues to hold that there is better value in PAC IOs.
-
Note payments are linked to two tranched credit default swap (CDS) transactions, one related to the reference obligation between the issuer and SoFi Bank and SoFi Lending and the Issuer.
9h ago -
The Federal Open Market Committee held the federal funds rate at current levels, citing "lack of further progress" toward meeting inflation goals.
May 1 -
During this week's Federal Open Market Committee meeting, officials voted to lower the cap on the amount of Treasury securities that can roll off the central bank's books each month from $60 billion to $25 billion.
May 1 -
The fixed, tax-exempt notes have about 137.5% in expected senior bond parity and 124.1% in subordinate bond parity levels.
May 1 -
Moody's took note of several credit strengths in the portfolio, including that on a weighted average (WA) basis, the contracts have a weighted average FICO score of 767 and only a point higher for the upsized pool.
April 30 -
Plaintiffs seeking class certification claim the bank uses an underwriting system that discriminates against minority mortgage applicants.
April 30