European Stocks May Advance on Yields; Allianz, ING Shares Might Gain

(Bloomberg) -- European stocks may rise after a
three-day drop in U.S. bond yields tempered concern interest
rates will rise further in the world's biggest economy.

U.S.-traded securities of Allianz SE, Europe's largest
insurer, and ING Groep NV, the Netherlands' biggest financial-
services company, advanced.


Read more at Bloomberg Stocks News

European Bonds May Fall on Speculation Report to Show German Optimism Rose

(Bloomberg) -- European government bonds may fall
before a report this week that's expected to show business
optimism in Germany held near the highest on record this month.

Futures trading shows investors expect the European Central
Bank to raise borrowing costs at least once this year from 4
percent. The Ifo institute's business sentiment index probably
reached 108.4, according to a Bloomberg survey before the report
due on June 22. The rate compares with May's 108.6 reading, the
second-highest level since records began in 1991.


Read more at Bloomberg Bonds News

Merrill Lynch to Auction $800 Million of Bonds Held by Bear Stearns Fund

(Bloomberg) -- Merrill Lynch & Co. plans to auction
today about $800 million of bonds held by a money-losing hedge
fund run by Bear Stearns Cos. that specialized in mortgage-
related assets and so-called collateralized debt obligations,
people with knowledge of the offering said.

Merrill Lynch, a creditor to the fund, began distributing a
list to investors late yesterday of the bonds it will sell,
according to the people, who declined to be named because the
details aren't public. Merrill Lynch two days ago postponed the
auction while Bear Stearns worked on a plan to bail out the
hedge fund. Merrill Lynch and Bear Stearns are based in New
York.


Read more at Bloomberg Bonds News

Microsoft to change Vista after Google complaint

(Reuters) - Under an agreement with the department and 17 state attorneys general and the District of Columbia, Microsoft will build into Vista an option to let users select a default desktop search program on personal computers running Windows.




The function, known as "Instant Search," allows Windows users to enter a search query and get a list of results from their hard drive that contain the search term.


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Deutsche Bank, Stada Arzneimittel, ProSiebenSat.1: German Equity Preview

(Bloomberg) -- The following stocks may rise or
fall in German markets.

Germany's X-DAX Index climbed 0.2 percent to 8055.59. The
index provides an estimate of the DAX Index, based on trading in
DAX futures after the Xetra electronic market closes. The DAX
was little changed at 8033.52 on the Xetra electronic-trading
system.


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Asian Stocks Climb for Fifth Day, Led by Toyota, Hon Hai on Bond Yields

(Bloomberg) -- Asian stocks climbed for a fifth day
after a drop in U.S. home construction damped concern interest
rates will be raised in the world's largest economy.

Toyota Motor Corp. and Hon Hai Precision Industry Co. led
exporters higher, helping the Morgan Stanley Capital International
Asia-Pacific Index to a record. The yield on the 10-year U.S.
Treasury note fell for three days after touching a five-year high
last week.


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SEC sees more mutual fund disclosures

(Reuters) - "We want to make sure that while some fees are upfront such
as front-end sales loads, other fees that behave similarly
aren't disguised," SEC Chairman Christopher Cox said after a
hosting a daylong round-table on mutual fund fees.




His comments come as the agency reviews how 401 savings
plans, which many American use for their retirement savings,
can provide clearer information to investors and whether mutual
funds should stop charging distribution fees.


Read more at Reuters.com Business News