As the markets reprice risk, increased investor demand for U.S. Treasury bonds has driven down the benchmark 10-year yield almost weekly from a five-year high of 5.26% on June 12. Heightened demand for bonds reduces the government’s need to entice buyers with juicy yields.
There has been $30.3 billion in new CMBS issuance to date in 2013, according to Commercial Mortgage Alert. That puts the industry on pace to smash last year’s volume of $48.4 billion and will make 2013 the busiest year for CMBS issuance since 2007. Where do you think total CMBS issuance volume will end up in 2013?
