Right after we recorded last week, President Trump nominated Kevin Warsh to succeed Jerome Powell. In this week’s episode of The TreppWire Podcast, we examine what that move could signal for the future path of interest rates and how markets are reacting. A brief government shutdown also delayed key economic data releases, leaving investors with limited visibility into growth and labor conditions. We also sit down with Ryan Sievers, Tax Partner at EisnerAmper, to unpack the One Big Beautiful Bill and its key implications for CRE, including bonus depreciation, Qualified Opportunity Zones, and what didn't make the cut.
On the banking side, the latest Senior Loan Officer Opinion Survey shows lending standards remain tight for office and construction—a trend we tie into findings from Trepp’s own lending survey—along with a look at Santander’s $12B acquisition of Webster Financial. Turning to commercial real estate, we unpack the January jump in the Trepp CMBS office delinquency rate, largely driven by two sizable loans, and close with key headlines from the week, including Brookfield’s $1.2B acquisition of Peakstone Realty Trust and Oracle’s plan to raise $45-$50B this year to expand its data center footprint. Tune in now.
Episode notes:
- Economic Update: Fed Chair Nomination & Government Shutdown
- One Big Beautiful Bill Deep Dive with Ryan Sievers, Tax Partner at EisnerAmper (15:12)
- January SLOOS & Trepp-i Data (23:07)
- Santander to Acquire Webster Financial (30:18)
- First Bank Failure of 2026: Metropolitan Capital Bank & Trust (33:10)
- Miami Office Tower Trying to Evict Banco Master (36:11)
- Trepp January CMBS Delinquency Report (37:58)
- Brookfield Acquisition of Peakstone Realty Trust (42:13)
- Data Centers: Oracle to Raise $45B+ (45:56)
- Programming Notes (47:55)
- Shoutouts (49:45)
Questions or comments? Contact us at podcast@trepp.com.
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