Investcap Advisors LLC
The market for CMBS and other debt instruments appears to be winding down as we approach the end of the year. The fourth quarter witnessed to resurgence of the new issue market but it is certain the market will not spring back to its former self anytime soon. It feels like the broker/dealer community remains long positions in CMBS, but the general anticipation is that the market is heading higher next year.
There are good reasons to believe this is so, but the headwinds in the property markets for commercial real estate will remain strong. Activity should be muted this week, except perhaps for the occasional seller looking to square away positions for year end.
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