AllianceBernstein blasts CMBX trade in paper ‘debunking next big short’
Asset manager AllianceBernstein has criticized the viability of shorting the CMBX.6 index, nicknamed the “next big short” by proponents of the trade, arguing that the decline of US shopping malls has been greatly exaggerated.
The $580bn asset manager took aim at a trade that gained popularity in early 2017 as a bet on the likelihood that malls across the US are destined for closure as retailers shut their doors in the face of withering competition from e-commerce.For the past few ...
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