S&P made up for its tardiness by downgrading the CMBS in one fell swoop by 9 notches from AAA to BBB-, just one notch above junk.
Triggered by the belated realization of the risks in mutual funds that offer daily liquidity but invest in illiquid assets.
“Our Retail Marshall Plan.”
“False optimism can easily lead you astray and prevent you from making contingency plans or taking bold action.”
At first the protests and now the coronavirus collide with the World’s Most Expensive Property Market.
“We regard liquidity mismatches as a major structural flaw.”
As with the millions who subtract pounds and add inches to their dating site profiles, it’s very tempting to push values.
Shares plunged 20% on the spot, and are down 44% in nine months.
Brick & Mortar melts down on mall owners. So “repurpose” malls into housing?
Ticket sales plunged 31% per person on average since 2002. You can raise ticket prices only so much before the strategy backfires.