With retail in trouble, Deutsche Bank says short CMBS

Deutsche Bank is telling investors that it may be time to place bets against the CMBS market, as mounting problems in the retail sector threaten the health of some post-crisis bonds heavily exposed to lower quality retail properties.

  • By Max Adams
  • 13 Feb 2017
The trade, which some players in the market have been calling the “next big short”, involves shorting the BBB- tranches of certain CMBX indexes. Specifically, Deutsche Bank is recommending investors place bets against BBB- slices of the CMBX 6 and CMBX 7 indexes, which track movement in the ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 3,136 9 12.62
2 Citi 2,562 6 10.31
3 Goldman Sachs 2,150 3 8.65
4 Credit Suisse 1,822 6 7.33
5 Societe Generale 1,814 4 7.30

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 22 May 2017
1 Citi 41,255.30 117 12.99%
2 Bank of America Merrill Lynch 37,631.92 109 11.85%
3 Wells Fargo Securities 32,082.26 89 10.11%
4 JPMorgan 20,969.41 64 6.60%
5 Credit Suisse 16,754.47 44 5.28%