In this week’s episode of The TreppWire Podcast, we examine rising Middle East tensions following US-Israeli strikes on Iran, including Iranian drone damage to Amazon data centers in the Gulf, and the ripple effects on oil prices and the 10-year Treasury. We cover the reversal of the 10-year Treasury back above 4%, rising oil prices, and record redemption requests at Blackstone's private credit fund. We review Trepp's February CMBS delinquency data, take a deep dive into the surging CRE CLO market, and break down $7.6 billion in SASB AAA downgrades. We close with a trading alert on the Minneapolis City Center loan and Target's surprise lease buyout. Tune in now.
Episode notes:
• Economic Update: Labor Data, Middle East Conflict & Ides of March Superstition (1:14)
• Iranian Drone Strikes on Amazon Middle East Facilities (15:35)
• Treasury Yields & Oil: Market Reaction to Gulf Conflict (18:55)
• Blackstone Private Credit Fund: Record Redemptions & Liquidity Response (22:05)
• CMBS Delinquency Report: Rate Declined, Led by Large Office & Retail Loan Extensions (26:19)
• CRE CLO Market: Record 2026 Issuance Pace (33:21)
• SASB Ratings Migrations & SF Office Losses (40:33)
• Programming Notes (53:26)
• Shoutouts (56:02)
Questions or comments? Contact us at podcast@trepp.com.
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