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Oh Sh*t, AAA Debt Is Starting to Fail Again...
Another CRE securitized structure is reportedly causing losses for its top tier, this one in another country and from a different corner of the real estate market. This matches recent reports that big banks are quietly beginning to sell their seniors in the space. Moreover, US homebuilder activity has plunged to new lows as the crosscurrents in the economy and financing are getting more unfavorable.
Eurodollar University's Money & Macro Analysis
Bloomberg Pimco Warns of More Regional Bank Failures on Property Pain…
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