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Phase 2 of the Commercial Real Estate Collapse Has Begun
According to multiple recent reports, banks are very quietly selling out of CRE positions. Those reports are backed up by banking data which clearly shows an inflection in systemic loans in the space. Combined, we have strong evidence showing the second stage of the CRE bust has now started.
Eurodollar University's Money & Macro Analysis
Reuters Big US banks withstand Fed's commercial real estate shock scenario
https://www.reuters.com/markets/us/big-us-banks-withstand-feds-commercial-real-estate-shock-scenario-2024-06-26/
Federal Reserve Stress Test Results 2024…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.