Japan top insurers see two BOJ rate hikes in FY07/08

(Reuters) - The Japanese government bond market has been tumbling over
the past three weeks as global yields kept climbing on
expectations for solid global growth and central banks
continuing to lift interest rates to ward off inflation.




The 10-year U.S. Treasury yield topping a psychologically
important 5 percent and looking set to rise further has
reinforced views that selling in JGBs was likely to continue in
tandem with a global trend of higher yields.


Read more at Reuters.com Bonds News

Copper Falls on Speculation Chinese Exports Will Slow; Aluminum, Zinc Drop

(Bloomberg) -- Copper fell in London, heading for
its fourth weekly decline since the beginning of May, on
speculation imports into China slowed as demand weakened in the
world's largest user of the metal. Aluminum, zinc and other
industrial metals dropped.

Imports probably fell by at least 48 percent to 100,000
metric tons, from close to a record in April, said traders and
analysts including Xue Feng at Maike Futures Co. China's customs
office will issue May data next week. Imports also may slide
this month and next, BNP Paribas analyst David Thurtell said.


Read more at Bloomberg Commodities News

Japan's Five-Year Notes Have Worst Week Since 2006 on Global Rate Outlook

(Bloomberg) -- Japan's five-year government notes
completed the worst week since 2006 after U.S. Treasuries
declined the most in more than three years on concern global
interest rates will rise.

Yields on five-year notes rose to the highest since they
were first sold in 2000 today as traders increased bets the
central bank will raise rates again this year. The gain in
Japan's long-term rates reflects the rise in borrowing costs in
the U.S. and Europe, Economic and Fiscal Policy Minister Hiroko
Ota said today in Tokyo.


Read more at Bloomberg Bonds News

India's Inflation Slows to Nine-Month Low, Eases Pressure on Central Bank

(Bloomberg) -- India's inflation rate fell below the
central bank's target for the first time in nine months,
reducing the need for further interest-rate increases.

Wholesale prices rose 4.85 percent in the week ended May 26
from a year ago, slowing from 5.06 percent in the previous week,
the Ministry of Commerce and Industry said in New Delhi today.
That was below all estimates in a Bloomberg survey of 12
analysts, where the median forecast was a 5.05 percent increase.


Read more at Bloomberg Emerging Markets News

AstraZeneca's Brennan, $7 Billion in Hand, Prowls for More Drug Purchases

(Bloomberg) -- AstraZeneca Plc Chief Executive
Officer David Brennan, who spent $16.2 billion on purchases since
taking over, says he'll continue buying to fill the drugmaker's
product pipeline.

Brennan, 53, became CEO of London-based AstraZeneca in
January 2006, when he beat former Chief Financial Officer Jon
Symonds. Brennan and Symonds, who unexpectedly resigned June 6,
have bought four companies to bring in experimental medicines
after the failure of four drugs in late stages of testing.


Read more at Bloomberg Stocks News

Handelsbanken hesitant on Nasdaq's bid for OMX-report

(Reuters) - "That will be a part of our evaluation. We will not
exclusively do a financial analysis of the bid," the paper
quoted Handelsbanken Chairman Lars Gronstedt as saying.




Nasdaq and OMX last month announced an agreed $3.7 billion
takeover by Nasdaq of OMX.


Read more at Reuters.com Mergers News

S.Africa c.bank sees price pressure outside food, oil

(Reuters) - South Africa's central bank Governor Tito Mboweni said on Friday there was upward pressure on prices from sources other than food and oil, and that while interest rates were generally too high, low rates cause overspending.

"We are noticing a kind of generalised tendency for prices to rise ... so we are seeing generalised price (increases)," he told a breakfast meeting.


Read more at Reuters Africa