190. It's Happening: Office Delinquencies Tick Up Again, Calls for Bank Regulation, and Wrap on Q1
The TreppWire Podcast: A Commercial Real Estate Show
00:00
AAA Spreads Widen in the Credit Curve
The pain is much more substantial. It dwarfs the amount of rate decrease we've seen in the 10 year yield. I would say yields on the triple B minus segment for new stuff is out 200 basis points. And that's if it's not heavily tilted towards office. When you're talking about older series stuff from 17, 18, 19, 20, 21, that is heavily office, heavily tilted towards 2023 to 2025 maturity dates, those triple B minuses are out 400 to 600 basis points. If not more, it is a tough slog right now for guys that bought those bonds six months ago when rates were low.
Transcript
Play full episode
