Singapore’s residential property market is likely to bottom only at some point of time in 2010, says a new report from Bank of America Merrill Lynch. The US investment bank noted that although local residential prices have already fallen 21% from the peak in mid-2008, they are likely to fall at least another 30% this year and a further 10% early next year before they stabilise. Indeed, Merrill...
Merrill Lynch
It could take a few years for the United States economy to bounce back. This was the prediction from one of Merrill Lynch’s top strategists at the start of its “Rising Stars” conference in Singapore yesterday. Mr Mark Matthews, the firm’s chief Asia strategist, said: “We are looking at a protracted recovery that’s going to take the economy two to three years to unwind from its excessive...