下载

First to the Bush plan. Oh, it does seem that it excludes more people than it includes?

That's right. I mean that if you look at who the plans aim at, it is really borrowers who are seem to be solvent not more in thirty days behind payment or sixty days throughout the couse of the year we've got to see their payments. So I think in the original indication that we help about 1.2, 1, over 1 million subprime borrowers seems to be a bit mislayed if you like. And I think if when the market digest the full implications of the plan, there may be a bit of reassessment through its reactoin to it.

Oh, really, so, because this is the markets rally yesterday. So you think that it is just the knee-jerk reaction if we see something.

You always see knee-jerk reaction. I think what the plan did suggest or does suggest is that the actual extent of the subprime fallout from foreclosures. I mean if foreclosures do accelerate through reassessing of morgage rates. What best likely to do is put further pressure on house prices which is good for nobody. Home builders or the consumer. So that the initial reaction is to say, hey, this is gonna actually stand that impact and it seems US positive. I think going foward, as the plan is actually further analyzed. I think the obstacle will be more evident.

And here in the UK, we saw interest rates cut yesterday. Now this also responds to the credit crisis in the way?

I think more, it is, the credit cards is back to a lot of central banks central corner. I mean that it's no doubt within the UK that we are seeing, we have seen a softening picture within the economy house prices have fallen for three months in a row. I think the consumer, sentiment?? consumer activities soften zim the considerably. But I think most analysts who are really expecting the banks being install their interest rate cut the cycle toward, as the start of next year. So if you could see the moves early, it does suggest that the credit market impact is, was a big factor.

So one of the reasons that perhaps brought foward a little bit.

Definitely, I mean now, I think you can't discount the impact to the ?? a few years ago. The banking has been one of the least active in terms of providing liquidity in the face of the credit turmoil so, I think they do want to give the impression that they were insensitive to what was going on in the banking sector.

Now to be proactive . And of course speaking of interest rates, what's gonna happen with the FED in next week.

Well, I think 25 basis point cut is being priced by the market and there is an increase we talk about 50, 50 basis point cut. I think if you look at the situation in the US, we still see little evidence from the actual real economy to justify the rate cuts or these responses are definitely relate to the credit market what's happening within the finacial sector. I think if we see a 25 basis pintcut from the dollars point of view coz it has been for the price. I don't see that as a dollar negative mood was, if we do see a 50 basis point cut next week, that could lends a bit pressure against dollar. 

这篇有难度哦,第一遍基本没听懂