No names yet for World Bank chief: Kimmitt

(Reuters) - Deputy Treasury Secretary Robert Kimmitt, who stood in for Paulson at a G8 finance ministers meeting, hastily added that he already has a job but seemed to enjoy the attention his name has drawn as one on a list of potential candidates to take over from Paul Wolfowitz, who quit this week under fire.




"I'm flattered to be associated with an institution like the World Bank," Kimmitt said.


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European Bonds Decline Most in Five Weeks as Economic Growth Accelerates

(Bloomberg) -- European bonds posted the biggest
weekly decline in five weeks after reports showed European
economies expanded faster than expected in the first quarter.

The gap in yields between 10-year European notes and U.S.
Treasuries narrowed to the least in 2 1/2 years this week as
economic growth in the euro region accelerated and U.S. expansion
slowed. European two-year yields also traded near the highest in
almost five years after European Central Bank President Jean-
Claude Trichet signaled higher interest rates.


Read more at Bloomberg Bonds News

Yen steady after China widens yuan band

(Reuters) - The Japanese yen firmed marginally on Friday after China widened the yuan's trading band against the U.S. dollar, with investors judging the move would do little to speed up the pace of the Chinese currency's rise.

The yen, Asia's most liquid currency, which often trades as a proxy for the tightly controlled yuan, initially jumped after China said it would allow the yuan to rise or fall 0.5 percent against the dollar daily, up from 0.3 percent in the current trading band.


Read more at Reuters Africa