STOCKS NEWS US-ML: 2009 will be as hard on CMBS as 2008 was

Stocks on the move [HOT-RTRS] Real-time Equity news [U E] [RESF/US]

U.S. stock market report [.N]
0847 ET 13Jan2009-ML: 2009 will be as hard on CMBS as 2008 was
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Merrill Lynch on Tuesday said it expected 2009 to be as hard a year for
commercial mortgage-backed securities (CMBS) as 2008 was. "Our outlook is for
property values to fall and CMBS credit problems to ratchet up as the economic
landscape is negative," it wrote.

The firm sees a further decline of about 20 percent in commercial real
estate values and said that financing would be difficult to obtain. "Even if
available, [the financing] is likely to have lower leverage. We think this and
a poor economic environment will send cap rates higher and they could
eventually reach 9-10 percent."

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0821 ET 13Jan2009-Citigroup slides in premarket on outlook worries
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Shares of troubled bank Citigroup Inc (C.N) fell in premarket trade on
Tuesday as investors worried about the company's outlook, as well as the fear
of more credit losses ahead.

The stock, a Dow component, lost 9 percent to $5.10 before the bell.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0813 ET 13Jan2009-Bernanke: global econ being hit hard by crisis
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Ben Bernanke, the chairman of the U.S. Federal Reserve, on Tuesday said the
global economy was being hit hard by the financial crisis, and that the timing
and strength of the recovery would depend on how governments respond.

Bernanke also said that the Fed had tools that could be developed to help
manage balance sheet shrinkage. [ID:nN13384393]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0755 ET 13Jan2009-Crude oil down on demand worries
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February crude futures fell on Tuesday, as investors feared that the
recession would impact demand. Also weighing on the commodity was a rise in
strength in the dollar compared with the Euro, and Russia signaling that it
would restart natural gas supplies to Europe.

The contract fell 2.8 percent to $36.55.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net