1. CMBS Delinquencies Unexpectedly Surge to Post-Covid Highs, Led by Distress in Lodging Sector
The delinquency rate for commercial mortgage-backed securities (CMBS) has unexpectedly surged to its highest level since the pandemic, hitting 7.55% in March. This 41-basis-point jump, detailed in the latest Trepp report, signals a sharp escalation of distress in a credit market many had moved on from, now led by a con...