The commercial mortgage-backed securities market concluded three days of less than stellar spreads with some notable improvements Wednesday.
The market was weighed down midweek by disappointing earnings, a decline in home sales and worries about Europe, Trepp Analytics said in a report.
Despite negative data midweek, Trepp says the CMBS market experienced notable improvements. "Overall, legacy super senior bonds were tighter by two or three basis points." In addition, the benchmark GSMS 2007-GG10 A4 bond performed better than the broader market, Trepp reported.
Earlier this week, Trepp noted that the CMBS market ran out of steam Monday. Spreads at the time were lower across the board and volume was light.
However, the market seemed to turn Wednesday, prompting Trepp to improve its outlook.