Copying and distributing are prohibited without permission of the publisher.

Watermark

Economist Warns Of US Subprime Perils

05 Jul 2007

Credit markets are vulnerable to defaulting US subprime mortgages and investors should pay more attention to signs of a possible meltdown in the US housing market, according to Andrew Freris, a chief economist for Asia Pacific for BNP Paribas, reports China’s The Standard.

There was even a possibility that a meltdown in the US property market could adversely affect Hong Kong real estate, said Freris. “I just have a feeling in my stomach. It makes me uneasy,” he said. Freris also predicted that the US will cut short-term interest rates by 25 basis points in the first quarter of 2008.

Click here to read the story from The Standard.

05 Jul 2007