Matthew Pallai

“It is difficult to understand the rate views at underwriting of all transactions, but it is fair to say that a large portion of the market participants – both borrowers and lenders – have over the last two years held the view that rates would be coming down after peaking in 2023-24.”

Matthew Pallai · said date not stated · reported 2026-09-11

Pallai said many market participants had expected rates to come down after peaking in 2023-24.

“For real concern to be raised to a point that it affects market outcomes would require at least another 50 to 100-plus basis points move for lower quality credits,”

Matthew Pallai · said date not stated · reported 2026-09-11

Pallai said yields would need to rise much further to reshape pricing or create a widespread default problem.