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Dec. 2 (Bloomberg) -- Bill Gross , manager of the world’s biggest bond fund, said stocks aren’t as cheap as they appear given that the era of deregulation, low borrowing costs and tax cuts is over.
Mortgage rationing is set to become more severe in 2009 without government action, a lenders' group warns.
State owned Kiwibank, which is largely funded from relatively cheap domestic sources including retail deposits, is wresting market share from its major rivals and growing its mortgage book at its fastest rate ever.
