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S&P Credit Research3377 word report
published Jun 12, 2008
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$500.00 available for immediate download
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S&P Credit Research
| Abstract: | The launch of the CMBX less than two years ago has affected the commercial mortgage market in ways nobody ever expected, especially as trading spreads were at record levels just two months ago. In light of heightened focus on credit spreads in this sector, we decided to explore the effects that the CMBX, an index of commercial mortgage-backed securities (CMBS), has had on trading activity since its debut in March 2006. Like the ABX Index in the subprime residential mortgage sector, the CMBX is often used as a proxy for the health of the overall commercial mortgage market. The movements of the yield spreads on the various series, or indices, that make up the CMBX, can provide a sense of
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| Brief Excerpt: | RESEARCH Ratings Definitions How CMBX Trading Eclipsed The Cash CMBS MarketsaÇöAnd The Unintended Consequences Publication date: 12-Jun-2008 Primary Credit Analyst: James M Manzi, CFA, New York (212) 438-5319; james_manzi@standardandpoors.com...
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| Report Type: | Commentary
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| Sector: | Asset-Backed Commercial Paper, Asset-Backed Securities, Collateralized Debt Obligations, Commercial MBS, Real Estate Companies, Residential MBS, Servicer Evaluations, Structured Finance
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
