Commercial property update

I think that Morgan Stanley has been advising investors to sell shares in this Germany company due to the exposure to commercial real estate in the USA

The troubles in the US commercial property market, which have already hit banks in New York and Japan, moved to Europe this week, elevating fears about broader contagion.

The latest victim was Germany’s Deutsche Pfandbriefbank AG, which saw its bonds slump on concern about its exposure to the sector. It responded by issuing an unscheduled statement Wednesday that it had increased provisions because of the “persistent weakness of the real estate markets.”

Even Yellen is now admitting to being worried about commercial property: