Business Services Industry
US rattles regional markets.
Australasian Business Intelligence, March, 2007
Byline: Nina Wan
Mar 14, 2007 (The Australian Financial Review - ABIX via COMTEX) -- Australia's S&P/ASX 200 closed 2.1 per cent lower on 14 March 2007, as investors sought refuge in the bond market. The selldown was sparked by data showing that mortgage defaults in the US rose sharply in the December 2006 quarter, particularly in the sub-prime market. However, while the data have raised concerns about the outlook for the US economy, some analysts believe that the Federal Reserve is now more likely to cut official interest rates rather than raise them. Meanwhile, Tony Brennan of Deutsche Bank remains bullish about the Australian sharemarket, forecasting that the S&P/ASX 200 will top 6,500 points by the end of 2007.
Publication Date: 15 March 2007...
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