22 June 2023

GCI Investment Update May 2023

In early June, Standard & Poors (S&P) released a report “How Resilient are Australian RMBS Ratings to Rising Arrears”. The analysis focused on the “recent vintages as these are more exposed to large increases in mortgage repayments, given their higher exposure to loans underwritten at historically low rates”. This is entirely consistent with why Gryphon has been actively mitigating exposure to this cohort of borrowers.

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