U.S. Homebuilder Confidence Declined to 16-Year Low (Update1)
http://www.bloomberg.com/apps/…d=auPPGeg3HmHk&refer=home
Countrywide Falls; Merrill Cites Bankruptcy Prospect (Update1)
By Elizabeth Hester
Countrywide branch office Aug. 15 (Bloomberg) -- Countrywide Financial Corp., the biggest U.S. mortgage lender, fell for the fifth consecutive day on the New York Stock Exchange after Merrill Lynch & Co. raised the possibility of bankruptcy.
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`Severe Contraction'
Bruce said in his report that the ``severe contraction'' in liquidity is surfacing in almost every type of asset. He cited Coventree Inc., the Canadian investment bank that yesterday sought emergency funding after investors declined to buy its debt. The company later said it found buyers for C$600 million ($557 million) of the securities.
Coventree's problem may spread to the U.S., Bruce said.
``We hesitate to use the word contagion, but this market is feeling awfully similar to the fall of 1998,'' he said, referring to the market crisis that resulted from Russia's debt default and the collapse of hedge fund Long-Term Capital Management LP.
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http://www.bloomberg.com/apps/…d=aKRiK9kzL1ZM&refer=home
So schauts aus 
