In a surprise move over the weekend on 7 September, US Treasury Secretary Henry Paulson announced to the world that the US government will be taking over the operations of Freddie Mac and Fannie Mae as well as assuming their respective debts.
Margins seemed to have improved over 1Q. Stock is trading at only 1.13x book and still offers an attractive dividend yield of 5%.
In a move that was widely anticipated for weeks – the US government nationalised Fannie Mae and Freddie Mac.
Our HK/China property analysts believe that the next 12 months will be a differentiating period for the China property market.
CapitaLand is expected to recognise a gross gain of about $43m from divesting the property.
Analysts around the world may be crowing over the (alleged) inflation corpse, but in Indonesia at least it is too soon to say price pressures are dead and buried.
It seems that investors have finally thrown in the towel, as average trading volume for the past fortnight have been consistently below the one-billion mark.
