Commercial-mortgage bond rally ends after seven weeks
Yields on bonds backed by commercial-property mortgages rose relative to benchmarks following seven straight weeks of tightening. The gap, or spread, on top-ranked debt tied to commercial real estate rose 0.14 percentage point to 2.33 percentage points more than similar-maturity Treasuries last week, according to a Barclays Plc index. Some top rated securities widened as much as 0.2 percentage point, the firm said April 23 in a report. “The seven-week rally in super-senior spreads came to an abrupt end,” New York-based analysts Aaron Bryson and Tee Yong Chew wrote in the report.