The document discusses a trade idea to purchase extension protected senior bonds from recently issued CMBS transactions. These bonds offer significant structural benefits and credit enhancement, with 30% credit support. The document highlights the structural attributes and relative value of these tranches, recommending a buy for the JPMBB 2015-C32 tranche with a trade horizon of 12+ months.
doj/DataSet10/EFTA01378349.pdf
{"title":"CMBS: Extension Protected Duper Tranches","document_date":"2015-10-26","document_type":"tabular","document_subtype":"Investment Recommendation","key_organizations":["Deutsche Asset & Wealth Management"],"reference_numbers":["46590JAV9"]}