Maris, Brian A.; Segal, William - In: Journal of Real Estate Research 23 (2002) 3, pp. 235-252
Yield spreads on commercial mortgage-backed securities (CMBS) are defined as the difference between the yield on CMBS and the yield on comparable-maturity Treasuries. CMBS yield spreads declined dramatically from 1992 until 1997, then increased in 1998 and 1999. The relationship between CMBS...