Verstavo National Pulse
Back Issues
The weekly record of U.S. commercial real estate credit — every edition, preserved exactly as it read that week.
Week of July 6, 2026
The frontier blinks
The floating-rate CLO half that hadn't flinched just hit a cycle-high 13.2% troubled — and the fixed-rate core added another $0.34 billion behind it.
The frontier turns first — and this week it turned to a cycle high while the core keeps ratcheting.
Week of June 29, 2026
The core stops waiting
Fixed-rate distress jumped $0.27 billion this week — five times last week's crawl — and office crossed to 4.7%, while the floating-rate frontier stayed pinned at a 13.2% cycle high.
The frontier holds its cycle high; the core finally shows a gear.
Week of June 22, 2026
The manager arms the par button
No buyout has fired yet — but a deteriorating LFT just loaded the maneuver that turns a coverage test green without fixing a single loan.
The core ticks up a hair; the frontier holds at its high and reaches for the par button
Week of June 15, 2026
The floating-rate canary stops singing
The CMBS core didn't move a basis point this week — but the managed CRE CLO market just hit a cycle-high 13.2% troubled, and that's the half that moves first.
The frontier turns first — public CLO stress at a cycle high while the core holds its breath
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