JGBs rise after solid auction, BOJ view caps gains

(Reuters) - Futures inched up towards a two-month high touched on Monday
as Japanese stocks hovered near a four-month low and dealers
picked up shorter JGB maturities after an auction of two-year
notes attracted solid demand.




"The auction was slightly better
and the Nikkei is still dragging its feet," an analyst at a U.S.
securities house said.


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Gold rebounds after sell-off, Tokyo hits 1-month low

(Reuters) - Gold recovered on Friday after tumbling to its lowest in two weeks the previous day, while Tokyo futures slipped for the fifth day in a row to a one-month low as investors ditched their holdings.

"A plunge in U.S. shares has triggered some sell-offs in commodities, but the market is not panicking now. We've seen a similar turbulence in the last several months, so I think the market is getting used to it," said Shuji Sugata, manager at Mitsubishi Corp Futures and Securities.


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Italy's S&P/MIB Index Rises , Paced by UniCredit; Impregilo Shares Gain

(Bloomberg) -- Italy's S&P/MIB Index rebounded from
its largest one-day drop in two months. UniCredit SpA and
Impregilo SpA paced the advance.

The S&P/MIB Index added 135, or 0.3 percent, to 41,608 at
9:11 a.m. in Milan as 28 stocks rose, 11 fell and one was
unchanged. Futures expiring in September climbed 88, or 0.2
percent, to 41,875.


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Shanghai Copper Falls For Third Day Amid Speculation Stockpiles to Rise

(Bloomberg) -- Copper prices fell for a third day in
Shanghai on speculation that local stockpiles of the metal
increased, adding to concern that China may take time to absorb
supply following higher-than-expected imports last month.

Shanghai copper stockpiles, which have been falling since
reaching a three-year high on June 14, may rise, as a deadline
for delivery against the expiring July futures contract
approaches. The Shanghai Futures Exchange will release this
week's data later today. China is also expected to issue June
import and output figures for refined copper early next week.


Read more at Bloomberg Commodities News

Oil Rises to a 10-Month High on Nigerian Unrest, U.S. Refinery Shutdowns

(Bloomberg) -- Crude oil rose to a 10-month high, on
concern that unrest in Nigeria may curb oil shipments and
unexpected shutdowns at U.S. refineries will cut fuel production.

Nigerian gunmen kidnapped a three-year-old daughter of a
British expatriate on her way to school in the southern oil city
of Port Harcourt, a police spokesman said. Five contractors were
seized yesterday from a rig operated by Royal Dutch Shell Plc's
Nigerian venture. Futures pared gains after the Energy Department
reported that U.S. oil and fuel supplies rose last week.


Read more at Bloomberg Energy News

Rubber Futures Rise in Tokyo on Concern Thailand Supply Slow to Pick Up

(Bloomberg) -- Rubber futures in Tokyo, the global
benchmark, rose for a third day amid concern that supply in
Thailand is not picking up as fast as it should after the end of
the low production season.

Futures contracts also looked cheap compared with physical
rubber prices, which were underpinned by rain in Thailand, the
world's biggest producer, said Takaki Shigemoto, an analyst at
commodity broker Okachi & Co. in Tokyo, by phone today. Rubber
supply in Thailand typically increases after the low production
period known as wintering.


Read more at Bloomberg Commodities News

Japan's Commodity Exchange Trading Volumes Decline 25 Percent Last Month

(Bloomberg) -- Japan's commodity exchanges
trading volumes fell 25 percent in June from a year ago,
the Japan Federation of Commodity Exchanges Inc. said.

Futures and options trading volume on the four bourses
totaled 6.53 million contracts for the month, down from
8.71 million contracts, the Tokyo-based federation said in
data released on its Web site June 29.


Read more at Bloomberg Commodities News

Yen Recoups Loss as Traders Reduce Selling Before Fed Ends Rate Meeting

(Bloomberg) -- The yen recouped losses against the
dollar and euro as traders reduced bets on a weaker currency
before a Federal Reserve meeting that ends today.

The Fed is expected to keep its target rate for overnight
lending between banks at 5.25 percent. Futures show traders
priced in higher odds of an interest-rate cut this year. Japan's
yen had snapped a three-day winning streak, declining against 14
of the 16 most-active currencies, after U.S. stocks gained.


Read more at Bloomberg Currencies News

JGBs gain on Nikkei fall, rate concerns remain

(Reuters) - Futures recovered from an early slide that had been prompted
by losses in U.S. Treasuries on Thursday, but market
participants did not expect prices to gain much further because
of a widespread view that the Bank of Japan will lift interest
rates in coming months.




September futures ended 0.18 point higher at
131.67, boosted by a 0.28 percent fall in the Nikkei share
average as stocks pulled away from a seven-year high
notched on Thursday. The lead bond contract kept its distance
from a seven-year low of 130.76 hit last week.


Read more at Reuters.com Bonds News

JGB futures edge up but BOJ rate concerns cap gains

(Reuters) - Futures recovered from a slide early in the session that had
been prompted by losses in U.S. Treasuries on Thursday. Market
participants said deepening losses in the Nikkei share average
were giving bonds a boost.




JGBs have been finding their footing this week in the
aftermath of a heavy sell-off on concerns about climbing global
bond yields and the growing view that the BOJ will lift rates to
0.75 percent in August, which had driven the futures contract to
a seven-year low.


Read more at Reuters.com Bonds News

Shanghai copper up 0.7 pct with LME, strikes eyed

(Reuters) - Shanghai copper rose 0.7 percent on Wednesday in tandem with an early pick-up in London prices as investors watched to see how a series of strike threats played out.

The most-active September copper contract on the Shanghai Futures Exchange rose to 64,950 yuan a tonne at 0227 GMT, from 64,480 yuan on Monday, while copper for delivery in three months on the London Metal Exchange gained $45 to $7,475.


Read more at Reuters Africa

Copper Prices Fall on Concern China's Imports Slowing, Demand Weakening

(Bloomberg) -- Copper prices fell for a third day in
Shanghai on concern that buying by China, the world's biggest
consumer of the metal, may have plunged last month, signaling
weakening demand.

China's customs office is scheduled to issue import data for
May next week. Imports probably fell by at least 48 percent to
100,000 metric tons, compared with April's near-record levels,
after inventories increased and prices soared, traders and
analysts, including Xue Feng at Maike Futures Co., said June 6.


Read more at Bloomberg Commodities News

U.S. Treasuries Increase as Yields Near Nine-Month High Attract Investors

(Bloomberg) -- U.S. Treasuries rose the most in more
than three weeks as benchmark 10-year note yields near the
highest since August attracted investors.

The 10-year note's yield reached a nine-month high of 4.96
percent on June 1, having increased from the year's low of 4.44
percent on March 5. Futures traders have cut the odds of a
reduction in borrowing costs by the Federal Reserve for the end
of 2007 to 24 percent from 100 percent at the start of May.


Read more at Bloomberg Bonds News

Copper Futures Climb After Global Inventories Tumble Most Since October

(Bloomberg) -- Copper futures in New York rose to
the highest almost two weeks after a gauge of global inventories
tumbled the most in seven months.

Stockpiles monitored by the London Metal Exchange fell
3,3550 metric tons, or 2.8 percent, to 123,900 metric tons, the
biggest daily percentage decline since Oct. 17. Inventories in
China dropped for a second-straight week, the Shanghai Futures
Exchange said on June 1. Copper has rallied 19 percent this year
as LME supplies plunged 32 percent.


Read more at Bloomberg Commodities News

European Government Notes Head for Third Weekly Drop as Confidence Climbs

(Bloomberg) -- European two-year government notes are
headed for a third weekly decline after a report showed German
consumer confidence rose more than expected in June.

Benchmark two-year yields held near the highest in five
years after a report yesterday showed business sentiment in
Europe's biggest economy stayed near a record in May. Futures
trading shows investors are raising bets the European Central
Bank raising rates at least twice more this year.


Read more at Bloomberg Bonds News

DaimlerChrysler, Deutsche Bank, Siemens May Move: German Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in German markets today. Stock symbols are in parentheses after
the company names and prices are from the Xetra close on May 18
unless otherwise stated.

DAX Futures expiring in June rose 8, or 0.1 percent, to
7637.50 at 8:21 a.m. in Frankfurt. The DAX Index added 108.04, or
1.4 percent, to 7607.54.


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US RATE FUTURES-Focus on late-year Fed cuts after CPI

(Reuters) - CHICAGO, April 17 - U.S. short-term interest rate futures rose on Tuesday after U.S. core consumer prices in March rose less than expected, raising hopes in the market that inflation pressures may have peaked.

Still, most of the market's response came in deferred contracts, suggesting it will be several months before Federal Reserve policy-makers feel comfortable enough with the inflation outlook to think about cutting rates.


Read more at Reuters.com Bonds News

US RATE FUTURES-Up on mild rise in March core CPI

(Reuters) - Core consumer prices, stripped of food and energy, rose 0.1 percent in March against Wall Street expectations for a 0.2 percent advance. Year-on-year core prices rose by 2.5 percent, down from a 2.7 percent year-on-year advance in February.




Read more at Reuters.com Bonds News

White Sugar Gains in London on Speculation Yesterday's Losses Overdone

(Bloomberg) -- White sugar futures gained in London as some investors deemed yesterday's loss excessive.

Sugar's 14-day relative strength index, a chart used by traders to measure the momentum of price movements, was at 38.8 today and at 35.3 yesterday. A reading at 30 or lower typically signals prices will gain, whereas a reading higher than 70 signals a decline.


Read more at Bloomberg Commodities News

Futures drop on inflation worry, earnings eyed

(Reuters) - A sharp drop in the dollar against sterling after data showed inflation in Britain topping 3 percent could also put investors on edge. A fall in the dollar can add to pressure on U.S. prices and increase imports.

Besides data on the March consumer price index, investors will also get reports on housing starts and industrial production. Stocks surged on Monday, lifting the Standard & Poor's 500 index to a 6 1/2-year high on signs of strength in the economy and corporate profits.


Read more at Reuters.com Hot Stocks News