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Shahla Money Managing Guru

Joined: 13 Nov 2004 Posts: 3324
Cash Points ££ 126163.28
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Posted: Fri Jan 25, 2008 3:08 am Post subject: US Recession, Broadening Stock Market Top and the Commoditie |
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By: Nadeem_Walayat
News_Letter
The Stock Markets continued last weeks weakness on the back of further bad news in the financial sector as Merrill Lynch doubled its exposure to bad debts to $15 billion, and we may again see a doubling later in 2008.
The US Housing market continued to weaken as the monthly number of Adjustable Rate Mortgages (ARMs) resets continues to expans and not expected to peak until March/April 2008, with further indications of increasing defaults amongst prime mortgages occuring, therefore 2008 could be remembered for the meltdown in the prime mortgage market as 2007 was remembered for the sub-prime meltdown. Therefore confirming expectations of a weak stock market during the first half of 2008.
http://www.marketoracle.co.uk/Article3355.html |
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