UPDATE 1-Alaska sets session to revisit disputed oil tax

(Reuters) - ANCHORAGE, Alaska, Aug. 3 - A new oil tax that is
a subject of a wide-ranging Alaska corruption investigation
will get a rewrite at a special legislative session on
Oct. 18, Gov. Sarah Palin said on Friday.




The Petroleum Profits Tax, enacted last year at the urging
of former Gov. Frank Murkowski, has proved less lucrative for
the state than advertised and has been clouded by revelations
about political corruption, Palin said at a Juneau news
conference.


Read more at Reuters.com Bonds News

Muni Tobacco Debt Has Worst Month Since 2005 in July, A.G. Edwards Says

(Bloomberg) -- Tax-exempt bonds backed by the 1998
national tobacco settlement had their worst monthly performance
in July since late 2005, prompting one borrower to shelve a
scheduled tobacco debt sale and another to sell its offering
sooner than planned on concerns of a further decline.

The extra yield, or spread, investors demand on benchmark
municipal tobacco bonds compared with top-rated municipal debt
widened by 35 basis points, the most in more than 18 months, to
124 basis points, A.G. Edwards Inc. said in a report. Puerto
Rico postponed its $238 million sale July 31, while California's
Riverside County sold a $295 million deal a week sooner than
planned. A basis point is 0.01 percentage point.


Read more at Bloomberg Bonds News

Copper Futures Rise Most in a Week in New York on Strike by Mexico Workers

(Bloomberg) -- Copper futures in New York jumped
the most in more than a week after Southern Copper Corp. workers
went on strike at three mines in Mexico.

Employees began a work stoppage at Cananea, Mexico's
largest copper mine, and the Taxco and San Martin zinc mines, a
union spokeswoman said yesterday. Copper has gained 10 percent
since May 30 as labor unrest hampered production in Latin
American countries.


Read more at Bloomberg Commodities News

Copper Rises in Asia Trade on Mexican Labor Unrest; Zinc, Aluminum Advance

(Bloomberg) -- Copper futures in Asia rose after
workers at Southern Copper Corp., the world's fifth-largest
producer of the metal, began a strike at three of the company's
Mexican mines to demand wage increases.

Employees stopped work at Cananea, Mexico's largest copper
mine, and the Taxco and San Martin zinc mines, National Mining
and Metal Workers Union spokeswoman Carmen Romero said yesterday.


Read more at Bloomberg Commodities News

Parametric's Stein Uses Homegrown Strategy for Emerging Markets Returns

(Bloomberg) -- In 1994, Seattle-based Parametric
Portfolio Associates set out to create a strategy for investing
in emerging markets that would smooth out the price swings of
markets such as Brazil or Malaysia.

As a way to improve returns over the long term, it's on the
right track. Parametric's $1 billion Eaton Vance Tax-Managed
Emerging Markets Fund returned 33 percent annually on average for
the five years ended on May 29. That made it the third-best
performer among the 100 U.S.-based funds investing in emerging-
market stocks, according to data compiled by Bloomberg.


Read more at Bloomberg Exclusive News