Back to the Future: A Look at Today's CMBS Market from the Year 2000
The year is 2000. A CMBS investor turns on his computer in the morning to survey the Bloomberg listings and pricings of 40 tranches of previously issued AAA securities and 10 tranches of B piece securities offered for sale. Most of these securities were issued from 1991 through 2000 and were rated by Fitch, Duff & Phelps, or Standard & Poor’s.
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