1. CPI INFLATION • The Consumer Price Index fell by 0.1% month over month in June, its first monthly downtick in over four years, according to the latest data from the Bureau of Labor Statistics. • Prices continue to climb annually, rising 3.0% year-over-year, but...

1. BANK STRESS TESTS • According to the Federal Reserve, all 31 “systemically important financial institutions” (SIFIs) passed their annual stress tests. These tests evaluate the ability of large US banks to absorb hypothetical losses while maintaining more than their...

1. INTEREST RATES • The FOMC voted to leave rates unchanged at its June policy meeting, which aligned with market expectations. On Wednesday, markets braced for the convergence of May’s Consumer Price Index data, which arrived just a few hours before the Federal...

1. CRE LOAN MODIFICATIONS RISE AMID HIGH-RATE ENVIRONMENT • According to a new report by Trepp, CMBS loan modifications rose dramatically in 2023 as a significant swell of loans are set to mature in the coming quarters. • Modification volumes peaked mid-year 2023,...

1. LARGE FUNDS INCREASE CRE FOOTPRINT • A recent analysis by Reuters details how large funds are increasing their CRE market share as traditional lenders such as banks pull back. • Stricter capital rules for banks and recent regional bank failures in the US have led...

1. FIRST-QUARTER GDP • The US economy expanded by a 1.6% annualized rate during the first quarter of 2023, according to the latest data from the US Bureau of Economic Analysis. • First quarter GDP fell short of most estimates. Economists surveyed by Bloomberg, on...