With 80% of bonds from commercial mortgage-backed securities still rated triple A, many are trading at discounts that bump their yields into the range of 14% to 16% because investors are indiscriminately dumping anything related to real estate. Bonds of commercial mortgage-backed securities are typically structured to protect investors from all but the most colossal defaults.
The decline in stock prices has had an impact on how stocks are categorized. Some former large capitalization stocks have sunk to levels that classify them as mid- or even small-cap stocks. The downturn has also changed the classification for growth stocks.