LOWER US HOME SALES COOL SECTOR RECOVERY HOPES

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Sales of existing homes in the US fell slightly last month to a four-year low as the backlog of unsold homes rose, according to data published yesterday that dampened hopes of a recovery in the sector.

The data increased anxieties about the subprime mortgage sector, after last week's decision by Bear Stearns to lend $3.2bn to one of its hedge funds that suffered subprime debt losses. Bear shares were 1.4 per cent lower in early US trading at $141.71 yesterday.

Bond yields remained lower as investors worried that financial institutions could face further losses in the mortgage market.





昨日发布的数据显示，由于未售房屋存量上升，上月美国成屋销售量小幅下滑，降至4年来的最低水平。上述数据打击了市场对住宅市场复苏的希望。

上述数据加剧了市场对于美国次级抵押贷款领域的担忧。此前，贝尔斯登(Bear Stearns)上周决定，向其旗下在次级抵押贷款业务中蒙受损失的一只对冲基金贷款32亿美元。昨日美国早盘交易时段，贝尔斯登股价下跌1.4%，至141.71美元。

由于投资者担心金融机构可能在抵押贷款市场上遭受进一步损失，美国债券收益率继续走低。