The recent troubles of the Bear Stearns Asset Management Funds, the halt on redemptions at United Capital Asset Management and the shutdown of a hedge fund at Braddock Financial might only be the first of many market rumbles to clock in on the RMBS Richter scale. However, market experts say their broader market effect may not be as widespread as some have expected.

For the past several months, market players have speculated that these firms are just the beginning of a grander chain reaction setting off other market lockdowns. While further subprime-related meltdowns are expected, it may not be enough to shake bordering markets, sources say, noting that other hedge funds may be forced to mark down their own holdings, especially because of the end of June and the conclusion of the second quarter.

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