Saturday July 28, 2007

"Credit markets are close to closing down" : Goldman Sachs chief economist

businesstimes.com.sg :

The global stock market rout was sparked by concern in the US that rising risk aversion will slow takeovers, which have helped drive market gains. US$1.3 trillion was wiped off the value of stocks yesterday [27 Jul 2007] and the Standard & Poor's 500 Index suffered its biggest drop in five months.

More than 40 companies have revised or dumped bond offerings in the past three weeks as investors refuse to absorb more risky debt after a wave of losses from US sub-prime mortgages. 'The sub-prime problem is clearly spreading,' said Jim O'Neill, chief economist at Goldman Sachs Group in London. 'The credit markets are close to closing down.'

(2007-07-28 22:43:56 SGT) [Biz] Permalink

Most popular blog postings on lowem.log :

1. Singapore MRT rail network length to double by 2020
2. 2010 Nissan Leaf electric car specifications : 107hp, 24KWh lithium-ion batteries, 100-mile range
3. Live spot gold price quotes chart on COMEX
4. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
5. AVG Anti-Virus Free Edition 2011 direct download link
6. Real-time live gold and silver price quotes chart on COMEX
7. Singapore electric vehicles : Government agencies EMA and LTA to study EV introduction
8. Book review : Shut Down by William Flynn

Featured articles on lowem.log :

1. Book review : Shut Down by William Flynn
2. Singapore electric cars testing starts with 9 electric vehicles
3. Honda, GS Yuasa JV to make lithium-ion batteries for 2010/2011 Honda Civic Hybrid
4. 2010 Honda Civic Hybrid preliminary specifications released
5. 2010 Honda CR-Z hybrid, 2010 Honda Fit/Jazz hybrid models confirmed
6. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
7. NYMEX crude oil recovers from $32.40 low after 2.2 mbpd OPEC production cut announced
8. Singapore : Nuclear power not ruled out