(Bloomberg) -- The yen fell for a second day against the dollar and euro as a gain in Asian stocks gave traders more confidence to buy higher-yielding assets financed with money borrowed in Japan.
The Japanese currency may extend losses after posting a seventh weekly slide against the euro as a rebound in equities gave investors confidence to resume so-called carry trades. Traders bought back the yen on April 19 after China's shares plunged, triggering an equities slide reminiscent of the global sell-off on Feb. 27.
Read more at Bloomberg Currencies News
Sunday, April 22, 2007
Japan's Government Bonds May Fall on Speculation Stock Gains to Cut Demand
(Bloomberg) -- Japanese government bonds may fall for a second day on speculation gains in stocks will improve the outlook for the world's second-largest economy.
Demand for debt may drop because Japanese shares are likely to follow a U.S. rally that drove the Dow Jones Industrial Average to a record high on April 20. Higher stocks may prompt traders to sell bonds to hedge against a possible increase in yields before the government's auction of 20-year securities tomorrow.
Read more at Bloomberg Bonds News
Demand for debt may drop because Japanese shares are likely to follow a U.S. rally that drove the Dow Jones Industrial Average to a record high on April 20. Higher stocks may prompt traders to sell bonds to hedge against a possible increase in yields before the government's auction of 20-year securities tomorrow.
Read more at Bloomberg Bonds News
Dong Derivatives May Double as Investors Enter Vietnam's Expanding Economy
(Bloomberg) -- Vietnam's currency is starting to capture the attention of derivatives traders as Southeast Asia's fastest-growing economy accelerates.
DBS Group Holdings Ltd. and Australia & New Zealand Banking Group Ltd. have begun offshore trading in contracts tied to the future value of the currency, the dong. The $50 million of Vietnamese contracts that trade monthly may double in a year, Standard Chartered Plc estimates. More than $1 billion of Chinese yuan forwards change hands daily in an overseas market that didn't exist 15 years ago, according to HSBC Holdings Plc.
Read more at Bloomberg Currencies News
DBS Group Holdings Ltd. and Australia & New Zealand Banking Group Ltd. have begun offshore trading in contracts tied to the future value of the currency, the dong. The $50 million of Vietnamese contracts that trade monthly may double in a year, Standard Chartered Plc estimates. More than $1 billion of Chinese yuan forwards change hands daily in an overseas market that didn't exist 15 years ago, according to HSBC Holdings Plc.
Read more at Bloomberg Currencies News
Inflation in Australia Probably Accelerated, Boosting Bets Rates Will Rise
(Bloomberg) -- Australia's consumer prices probably picked up in the first quarter, keeping annual inflation at the top of the central bank's target range and adding to expectations interest rates will rise next week.
The consumer price index, the key inflation gauge, gained 0.6 percent in the first quarter after falling 0.2 percent in the previous three month, according to the median estimate of 24 economists surveyed by Bloomberg News. The Bureau of Statistics releases its report tomorrow at 11:30 a.m. in Sydney.
Read more at Bloomberg Bonds News
The consumer price index, the key inflation gauge, gained 0.6 percent in the first quarter after falling 0.2 percent in the previous three month, according to the median estimate of 24 economists surveyed by Bloomberg News. The Bureau of Statistics releases its report tomorrow at 11:30 a.m. in Sydney.
Read more at Bloomberg Bonds News
UPDATE 1-U.S. Congress set to defy Bush on Iraq war
(Reuters) - WASHINGTON, April 22 - A fight between the U.S. Congress and President George W. Bush over the Iraq war is set to come to a head this week when Democrats are expected to send him $100 billion to pay for continuing combat while setting timetables for withdrawing troops.
Bush has promised to veto any bill setting dates for removing U.S. combat soldiers from the Iraq war, now in its fifth year.
Read more at Reuters.com Bonds News
Bush has promised to veto any bill setting dates for removing U.S. combat soldiers from the Iraq war, now in its fifth year.
Read more at Reuters.com Bonds News
India, Indonesia, Malaysia, Singapore, Thailand: Asia Local Bond Preview
(Bloomberg) -- The following events and economic reports may influence Asian local-currency bonds today. Yields are from the previous session.
China: The central bank may raise interest rates twice this year and order banks to set aside more money to slow lending after economic growth accelerated to 11.1 percent in the first three months, a Bloomberg News survey of economists last week showed. China Citic Bank Corp. sold $5.4 billion of stock in the world's biggest offering this year, two people with direct knowledge of the matter said on April 20.
Read more at Bloomberg Bonds News
China: The central bank may raise interest rates twice this year and order banks to set aside more money to slow lending after economic growth accelerated to 11.1 percent in the first three months, a Bloomberg News survey of economists last week showed. China Citic Bank Corp. sold $5.4 billion of stock in the world's biggest offering this year, two people with direct knowledge of the matter said on April 20.
Read more at Bloomberg Bonds News
Nestle, Novartis, Kuehne & Nagel, Sulzer and Airesis: Swiss EquityPreview
(Bloomberg) -- The following stocks may rise or fall on the Swiss and Virt-x exchanges. Stock symbols are in parentheses and prices are from the last close.
The SMI, composed of the 24 largest and most actively traded companies, rose 142.96, or 1.5 percent, to 9,399.75. The broader Swiss Performance Index gained 110.35, or 1.5 percent, to 7558.24.
Read more at Bloomberg Stocks News
The SMI, composed of the 24 largest and most actively traded companies, rose 142.96, or 1.5 percent, to 9,399.75. The broader Swiss Performance Index gained 110.35, or 1.5 percent, to 7558.24.
Read more at Bloomberg Stocks News
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