JPMorgan Sells Commercial-Mortgage Bonds as Spreads Widen
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JPMorgan Chase & Co. sold a $1.5 billion commercial-mortgage bond as Middle East turmoil slows a three-month rally for the debt.
Top-rated securities tied to skyscraper, shopping mall and hotel loans are yielding 1.95 percentage points more than Treasuries, up from a spread of 1.88 percentage points on Feb. 18, the lowest level in at least three years, according to a Barclays Plc index.