ROYAL_OAK_INC

CRE & Small Banks coincide with each other

TVC:US30Y   US 30Y yield
Small banks account for about 70% of #commercialrealestate.
Small #banks are considered those with assets less than $10B.

We've been bearish CRE for a long time. We believe that this sector will likely not get better anytime soon.

#interestrates are still holding fairly strong. They are at banking crisis levels or higher.

TNX

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