For funds shorting CMBS, retailers’ turnaround plans are key

Hedge funds are shorting two synthetic indexes of post-crisis CMBS deals, with a third index being talked as the next target. Observers say that ailing retailers’ turnaround strategies are exactly what will play into the success of the trade.

  • By Max Adams
  • 06 Mar 2017
The “big short” of the CMBS market was a frequent topic of discussion at the annual SFIG Vegas confab last week. Talks centred on a short put on by hedge funds targeting two post-crisis indexes — CMBX6 and CMBX7 — that have high exposure to weak retail properties ...

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