Will the real estate subprime lending debacle reverse support for the Dollar?
*Reuters, by Jennifer Ablan, March 14, 2007:
"The deepest housing decline in 16 years could slow an inflow of
global capital that has more than funded the massive fiscal and
external deficits in the United States.
For years overseas investors have been buyers of American corporate
debt, mortgage-backed securities and agency bonds at record pace,
helping cover the U.S. current-account deficit -- the broadest measure
of international transactions.
But the rapid unraveling of the U.S. subprime mortgage industry, which
is stirring new concerns about the already weak housing market, could
change all of that."
*This information is solely a highlight of the opinion of a third-party publication and is incomplete. Please subscribe to this publication for the full and timely opinion of the author and call a Monex Account Representative for any additional up-to-date information. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
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