Barclays Capital this week saw commercial mortgage-backed securities (CMBS)-eligible Term Asset-Backed Loan Facility (TALF) demand outstrip supply. And TALF has a long way to go, as new issuance remains low on “anemic” lending. CMBS spreads pushed wider this week in the midst of the second legacy TALF facility, which brought in $2.3bn of bids. The Federal Reserve received no bids for new issuance CMBS in this week’s facility.
