Torchmark quarterly earnings rise

(Reuters) - Net operating income for the McKinney, Texas-based company rose to $129 million, or $1.34 a share, compared with $124 million, or $1.22 a share for the year-ago quarter.



Analysts on average expected the company to earn $1.33 a share, before any exceptional items, according to Reuters Estimates.


Read more at Reuters.com Market News

Dow Jones director Li probed on insider trade: WSJ

(Reuters) - Li is chairman and chief executive officer of Bank of East Asia , a mid-tier Hong Kong lender. He is also a member of Hong Kong's Legislative Council.




Dow Jones's board on Tuesday endorsed a $5 billion buyout offer from Rupert Murdoch's News Corp., sending the deal to Dow Jones' controlling Bancroft family for final approval. Dow Jones representatives were not immediately available for comment on Li.


Read more at Reuters.com Business News

Crude Oil Rises as U.S. Gasoline Inventories Fall Unexpectedly Last Week

(Bloomberg) -- Crude oil rose, approaching an 11-
month high in New York, after an Energy Department report showed
that U.S. gasoline inventories unexpectedly fell last week.

Supplies dropped 2.24 million barrels, the report showed.
Analysts in a Bloomberg News survey expected an 850,000 barrel
gain. Gasoline imports plunged 36 percent to an average 915,000
barrels a day, the lowest since the week ended March 16, the
report showed. The oil market often follows gasoline during the
summer months, when motor-fuel demand rises to an annual peak.


Read more at Bloomberg Commodities News

U.S. deportation of criminal immigrants harsh: group

(Reuters) - The study said deportees included immigrants who had come to the United States as children and who had committed crimes such as narcotics possession and petty shoplifting.




"It may be reasonable, for example, to deport a newcomer to the U.S. who engages in terrible crimes after he has served his sentence. But many immigrants who are being deported from the United States are a far cry from the worst and most violent offenders," the report said.


Read more at Reuters.com Bonds News

Lead Tops Record, Extends Rally on Supply Disruptions; Nickel, Tin Rally

(Bloomberg) -- Lead rose to a record in London for
a sixth session on speculation that global production will fail
to meet demand after a U.S. smelter was damaged by an explosion.
Nickel rallied and tin climbed the most in more than two months.

Doe Run Resources Corp., the world's second-largest lead
refiner, said yesterday output at its Herculaneum smelter in
Missouri was cut in half by the blast. Prices for the metal,
used mostly in car batteries, jumped 94 percent this year and
have outpaced other industrial metals as supplies from Australia
were disrupted and demand improved.


Read more at Bloomberg Commodities News

CIT eyes change-of-control provisions to debt

(Reuters) - CIT is leaning toward putting these provisions in new bonds
that it issues on a case-by-case basis, should the market
demand them, Chief Executive Jeff Peek told Reuters in an
interview.




Companies in the finance sector have traditionally been
seen as immune from leveraged buyouts. But SLM Corp.,
the student loan company also known as Sallie Mae, agreed in
April to be acquired by two banks and two private equity
investors.


Read more at Reuters.com Market News

TREASURIES-Subprime fears, Bernanke growth view boost bonds

(Reuters) - NEW YORK, July 18 - U.S. government bond prices
climbed on Wednesday as investors flocked into low-risk assets
on fears of the subprime mess and Federal Reserve Chairman Ben
Bernanke's view of the housing drag on growth.




There were heightened worries about the health of Wall
Street investment banks after Bear Stearns said late
Tuesday the pair of hedge funds it managed, which had invested
heavily in subprime mortgages, have "very little value."


Read more at Reuters.com Bonds News

JPMorgan's Dimon Sees `A Little Freeze' in Lending for Leveraged Buyouts

(Bloomberg) -- JPMorgan Chase & Co. Chief Executive
Officer Jamie Dimon said demand for leveraged buyout debt is
drying up and banks may be left holding more loans that they
can't sell.

There is ``kind of a little freeze in the marketplace,''
Dimon said on a conference call with investors to discuss the New
York-based bank's second-quarter earnings. ``If you see this
continue you will see the Street taking on a lot of bridge loans
and more aggressive repricing of those things.''


Read more at Bloomberg Bonds News

Personal Finance: Mortgage mess? Mop it up

(Reuters) - WASHINGTON, July 18 - Troubles in mortgageland
may get worse before they get better, especially for the
so-called "subprime" borrowers whose spotty credit histories
put them into more costly loans.




"It's an amorphous blob of trouble," says Keith Gumbinger
of HSH Associates, a mortgage research firm. "And there's more
pain to come."


Read more at Reuters.com Bonds News

MBIA, Ambac Risk Trading at Junk Levels on Subprime Default Concerns

(Bloomberg) -- The perceived risk of holding the
bonds of MBIA Inc. and AMBAC Financial Group Inc., owners of the
two largest AAA rated bond insurance companies, has jumped to
speculative grade on worries about subprime-mortgage defaults.

Credit-default swaps based on $10 million of MBIA's bonds
more than doubled in the past month to $114,000, while Ambac
contracts tripled to $91,000, according to CMA Datavision in
London. Those levels imply a credit rating of Ba2 for MBIA and
Ba1 for Ambac, the two highest junk ratings, according to the
credit-strategy group at Moody's Investors Service.


Read more at Bloomberg Bonds News

Tam Shares Drop After Jet Crashes in Brazil, Killing as Many as 200 People

(Bloomberg) -- Shares of TAM SA, Brazil's biggest
carrier, tumbled the most in two years on concern yesterday's crash
in Sao Paulo will shatter confidence in the nation's already
strained airport infrastructure and slow travel.

The stock sank as much as 8.9 percent, leading the Brazilian
benchmark index's steepest decline in a month, after a TAM airliner
skidded off a runway and burst into flames, killing as many as 200.
Gol Linhas Aereas Inteligentes SA, operator of a plane that crashed
in Brazil 10 months ago, killing 154 people, posted its biggest
drop since April.


Read more at Bloomberg Emerging Markets News

MatlinPatterson still interested in Alitalia-source

(Reuters) - MatlinPatterson was the last remaining contender in the
auction after the front-runner, Air One, pulled out Tuesday
night.




MatlinPatterson, which recently raised a $5 billion fund,
has been coordinating with U.S. buyout firm TPG and could still
lead a joint offer for the airline, the source said.


Read more at Reuters.com Mergers News

Core inflation helps predict price trends: Bernanke

(Reuters) - By stripping out volatile food and energy prices, the Fed can better track future inflation trends, he said.




Read more at Reuters.com Business News

Wheat Futures Rise as Price Slump Spurs Overseas Demand for U.S. Supplies

(Bloomberg) -- Wheat futures rose in Chicago for
the first time in five sessions on improved overseas demand for
U.S. supplies after prices fell from a record high.

Egypt, Japan and buyers in Taiwan this week said they
bought or planned to buy a total of more than 460,000 metric
tons of U.S. wheat. Importers are increasing purchases after
futures fell 5.9 percent from a record $6.50 a bushel on June
29. World inventories are forecast to fall before next year's
harvest to the lowest since 1982.


Read more at Bloomberg Commodities News

U.S. Stocks Retreat on Earnings, Mortgage Concerns; Intel, Financials Fall

(Bloomberg) -- U.S. stocks fell after Intel
Corp.'s earnings report spurred concern profit estimates for
computer companies are too high and Bear Stearns Cos. said the
subprime mortgage crisis wiped out investors in two of its
hedge funds.

Intel, the world's biggest chipmaker, declined the most
since January and led the Dow Jones Industrial Average lower
for the first time in six days. Financial shares posted the
steepest drop in the Standard & Poor's 500 Index after Bear
Stearns said investors in the funds may not get any money back.


Read more at Bloomberg Stocks News

Coffeyville Refinery May Resume Operations in Mid-September After Shutdown

(Bloomberg) -- Coffeyville Resources LLC, a Kansas
refinery owned by a Goldman Sachs Group Inc. unit and the buyout
firm Kelso & Co., expects to resume gasoline and diesel
production by mid-September after a July 1 flood shut the plant.

Major damage was confined to pumps, motors and electrical
controls, the Sugar Land, Texas-based company said today in a
statement. Production of nitrogen fertilizer has resumed at the
complex, with shipments planned today.


Read more at Bloomberg Energy News

Treasuries Rise on Forecasts From Bernanke, Weakness in Subprime Mortgages

(Bloomberg) -- Treasuries rose, pushing the
benchmark 10-year note's yield below 5 percent, after Federal
Reserve Chairman Ben S. Bernanke predicted inflation will recede
and said housing market weakness may slow economic growth.

The Fed also trimmed its forecast for economic growth this
year because of a slowdown in homebuilding, and an index linked
to the lowest-rated securities backed by subprime mortgages fell
to a record.


Read more at Bloomberg Bonds News

Lead Falls From Record in London as Gains Judged Overdone; Tin Rises

(Bloomberg) -- Lead fell in London after investors
judged that gains that took the metal to a record for a sixth
consecutive session were overdone. Nickel rose and tin climbed
the most in more than two months.

The gains in lead had been ``way too over-extended'' and
the metal was poised to fall, Robin Bhar, an analyst with UBS AG
in London, said today in a report. ``Despite these supply
concerns there is no actual shortage of metal in the physical
markets.''


Read more at Bloomberg Commodities News

UPDATE 2-Bernanke:Housing drag may persist, inflation a worry

(Reuters) - WASHINGTON, July 18 - Federal Reserve Chairman
Ben Bernanke told Congress on Wednesday the U.S. economy will
grow gradually this year and gain steam in 2008, but warned
there are many risks to the outlook and stressed the U.S.
central bank is on guard against inflation.




"Overall, the U.S. economy appears likely to expand at a
moderate pace over the second half of 2007, with growth then
strengthening a bit in 2008 to a rate close to the economy's
underlying trend," he said in semiannual testimony prepared for
delivery to the House of Representatives Financial Services
Committee.


Read more at Reuters.com Economic News

Bear Stearns, CSX, NovaStar, St. Jude, Tam, Yahoo: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Share prices are as of 10:15 a.m. New York time.

Brazilian airline American depositary receipts fell after a
passenger plane owned by Tam SA crashed on landing at Sao Paulo's
domestic airport, killing as many as 200 people in the country's
worst air disaster. Tam's ADRs (TAM US), each worth one share,
fell $2.37, or 6.6 percent, to $33.46. Gol Linhas Aereas
Inteligentes SA's ADRs (GOL US), each worth one share, fell
$1.26, or 4.1 percent, to $29.15.


Read more at Bloomberg Stocks News

SanFran Fed sees core inflation holding below 2 pct

(Reuters) - "We anticipate that core inflation will fall and remain
below 2 percent this year and next," economist Glenn Rudebusch
said in the bank's latest "FedViews."




The outlook is a shift from June's forecast, which showed 2
percent as a floor to the core personal consumption
expenditures price index through the end of 2008.


Read more at Reuters.com Bonds News

Dollar Drops Versus Yen, Euro After Fed Lowers Economic Growth Estimates

(Bloomberg) -- The dollar fell against the yen and
euro as the Federal Reserve lowered its forecasts for U.S.
economic growth for this year and next as home building is
weaker than anticipated.

The revisions came as Fed Chairman Ben S. Bernanke, in
semiannual testimony to the House Financial Services Committee,
predicted U.S. economic growth will pick up slightly next year
and inflation will gradually recede. He also said he expects a
slump in construction to continue to ``weigh'' on growth.


Read more at Bloomberg Currencies News

World airports saw record passengers in 2006

(Reuters) - ACI, the Geneva-based Airports Council International, said the 1,640 airports operated by its members in 178 countries also processed nearly 86 million tonnes of cargo last year -- up 3.6 percent on 2005, reflecting booming world trade.




"The statistics tell a great story -- growth and stability," ACI Director General Robert J. Aaranson said in a statement issued with the figures. "Three-quarters of airports worldwide reported positive passenger growth."


Read more at Reuters.com Business News

Dollar Is Little Changed Versus Euro After Bernanke Says Growth to Pick Up

(Bloomberg) -- The dollar was little changed
against the euro after Federal Reserve Chairman Ben S. Bernanke
predicted U.S. economic growth will pick up slightly next year
and inflation will gradually recede.

Bernanke, in his semi-annual testimony before the House
Financial Services Committee, said ``the U.S. economy appears
likely to expand at a moderate pace over the second half of
2007, with growth then strengthening a bit in 2008 to a rate
close to the economy's underlying trend.'' He also said ``core
inflation should edge a bit lower, on net, over the remainder of
this year and next year.''


Read more at Bloomberg Currencies News

JPMorgan profit hurt by home equity loans

(Reuters) - The negative trend provides a new worry for investors. Until now, most of the angst has been focused on subprime lending, or loans to people with weak credit.




JPMorgan Chief Financial Officer Mike Cavanagh said losses on home equity loans to prime borrowers, or those with good credit, will steepen, partly because U.S. housing prices have flattened or fallen in some areas.


Read more at Reuters.com Bonds News

Treasuries Little Changed as Bernanke Says Economic Growth Will Pick Up

(Bloomberg) -- Treasuries were little changed as
Federal Reserve Chairman Ben S. Bernanke predicted U.S. economic
growth will pick up slightly next year and inflation will
gradually recede.

The yield on the benchmark 10-year note rose almost 1 basis
point, or 0.01 percentage point, to 5.05 percent at 10:05 a.m.
in New York, according to bond broker Cantor Fitzgerald LP. The
price of the 4 1/2 percent note due in May 2017 fell 2/32, or 63
cents per $1,000 face amount, to 95 3/4. Bond yields and prices
move in the opposite direction.


Read more at Bloomberg Bonds News

WRAPUP 1-Food boosts U.S. inflation, housing data weak

(Reuters) - The pace of U.S. home construction rose 2.3 percent in June
but building permit activity, a sign of future construction
plans, sank to its lowest rate in 10 years according to
government data, flagging further weakness in the lackluster
housing market.




"Home builders have hardened to the fact that housing will
not recover soon," said Christopher Low, chief economist with
FTN Financial in New York.


Read more at Reuters.com Bonds News

Dollar Rebounds From Record Low Versus Euro as Consumer Prices Increase

(Bloomberg) -- The dollar rose from a record low
against the euro and the weakest in 26 years versus the pound as
a government report showed U.S. consumer prices rose last month
by more than analysts forecast, while housing starts increased.

Traders bought dollars as the report may feed speculation
the Federal Reserve will refrain from reducing its 5.25 percent
benchmark interest rate this year. The dollar slumped earlier as
losses on Bear Stearns Cos. hedge funds dimmed the allure of
U.S. assets.


Read more at Bloomberg Currencies News

Treasuries Little Changed Before Bernanke's Testimony on Monetary Policy

(Bloomberg) -- Treasuries were little changed as
government inflation data suggested Federal Reserve Chairman Ben
S. Bernanke will reinforce expectations for steady monetary
policy in testimony before Congress.

Benchmark 10-year note yields are at the low end of their
range over the past six weeks after losses in securities backed
by subprime mortgages fueled demand for the safety of U.S.
government debt. The inflation rate for items excluding food and
energy held steady at 2.2 percent in June, matching the lowest
in more than a year.


Read more at Bloomberg Bonds News

Dollar up after US housing starts exceed forecast

(Reuters) - The dollar rose to session highs against the euro and yen on Wednesday after news that June housing starts were slightly higher than expected, a small sign the sector may be improving prospects for the economy.

However, building permits were the lowest in a decade and separate data showed U.S. core inflation in June was in line with forecasts, keeping dollar gains capped and expectations intact that the Federal Reserve will keep benchmark overnight interest rates steady for the time being.


Read more at Reuters Africa

No need for replacement covenants in hybrids-Fitch

(Reuters) - Hybrid bonds have become a popular tool for financing
mergers and acquisitions as they are counted by ratings agencies
partly as equity, allowing credit ratings to be maintained while
boosting the issuer's balance sheet.




Corporate hybrid bonds carry very long or perpetual
maturities -- making them similar to equity -- but are usually
callable by the issuer after a period of seven to 10 years.


Read more at Reuters.com Mergers News

US STOCKS-Futures stay negative after CPI, housing data

(Reuters) - NEW YORK, July 18 - U.S. stock index futures
remained in negative territory on Wednesday after data showed a
pick-up in home construction but a plunge in building permits
and a slightly bigger-than-expected gain in consumer prices.




S&P 500 futures were down 8.7 points, below fair
value, a mathematical formula that evaluates pricing by taking
into account interest rates, dividends and time to expiration
on the contract.


Read more at Reuters.com Bonds News

June housing starts up 2.3 pct, permits plummet

(Reuters) - The Commerce Department said on Wednesday housing starts set an annual rate of 1.467 million units in June compared with a revised 1.434 million unit pace in May. Economists had forecast June housing starts to drop to a 1.45 million unit pace from the 1.474 million unit rate originally reported for May last month.




Building permits fell 7.5 percent in June to a pace of 1.406 million units. That's just above the 1.402 million unit rate seen in June 1997 and below the 1.48 million unit rate that economists had expected.


Read more at Reuters.com Business News

Alfa, Doral, Gol, TAM, Orbital Sciences, 3Com, Yahoo!: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges
today. This preview includes news that broke after exchanges
closed yesterday. Stock symbols are in parentheses after company
names. Share prices are as of 8:10 a.m. New York time.

Brazilian airline American depositary receipts fell after a
passenger plane owned by Tam SA crashed on landing at Sao Paulo's
domestic airport, killing as many as 200 people in the country's
worst air disaster. Tam's ADRs (TAM US), each worth one share,
fell $2.28, or 6.4 percent, to $33.55 in trading before U.S.
exchanges opened. Gol Linhas Aereas Inteligentes SA's ADRs (GOL
US), each worth one share, fell 61 cents, or 2 percent, to
$29.80.


Read more at Bloomberg Stocks News

UPDATE 1-American Standard posts lower quarterly profit

(Reuters) - American Standard, which is spinning off its
vehicle-control unit and looking to sell its bath and kitchen
business, reported net income of $176 million, or 84 cents a
share, down from $191.7 million, or 93 cents a share, a year
earlier.




Including results from the bath business, classified as a
discontinued operation, earnings were $1.05 a share, up 14
percent from a year earlier but 3 cents below analysts' average
forecast as compiled by Reuters Estimates.


Read more at Reuters.com Market News

Marshall & Ilsley 2nd-qtr profit rises

(Reuters) - Core operating income rose 9 percent to $222.6 million, or
84 cents per share, the company said.





Read more at Reuters.com Market News

June CPI up 0.2 pct, core up 0.2 pct

(Reuters) - Food prices advanced 0.5 percent in June, continuing a string of increases. They contributed 17 percent to the overall CPI increase in the first half of this year. Energy prices were down 0.5 percent last month, but the Labor Department said for the first half of this year, they advanced at a 27.8 percent seasonally adjusted annual rate and accounted for about 48 percent of the advance in the overall CPI.




Ex-food, ex-energy prices were up 2.2 percent from the same time a year ago, this was in line with expectations. The overall CPI was up 2.7 percent from a year ago, slightly more than the 2.6 percent advance economists were expecting.


Read more at Reuters.com Business News

Canadian Pacific Rail, Husky, JumpTV, Neurochem: Canadian Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in Canadian markets.
This preview includes news that broke after markets closed. Symbols
are in parentheses after company names and prices are from the last
close.

The Standard & Poor's/TSX Composite Index rose 43.76, or 0.3
percent, to 14,382.01.


Read more at Bloomberg Stocks News

Ghost of Franco Haunts Spain as Families Open Civil War-Era Mass Graves

(Bloomberg) -- Next to a mass grave in Malaga,
Spain, Juliana Sanchez watches an archeologist scrape dirt from a
broken skull and wonders if this might be her father.

``I can't leave,'' she says of the site, where investigators
found the remains of children and babies among 220 bodies crammed
into a pit by fascist dictator Francisco Franco's death squads.
``I'm too anxious to know if some paper, some trace could be
found to show that one of them is my father.''


Read more at Bloomberg Exclusive News

UPDATE 1-Altria profit falls on charge, Kraft spinoff

(Reuters) - The company, which saw earnings pressured by its spinoff of
Kraft Foods Inc. , also cut its full-year earnings
forecast to reflect additional charges for asset impairment and
other costs.




The parent of Philip Morris USA and Philip Morris
International posted second-quarter profit of $2.22 billion, or
$1.05 a share, compared with $2.71 billion, or $1.29 a share, a
year earlier.


Read more at Reuters.com Market News

Continental bid for VDO nears 11 bln eur - source

(Reuters) - Continental declined comment.



Private equity firm The Blackstone Group with its U.S. car parts unit TRW Automotive Holdings Corp are also set to bid for VDO, people familiar with the matter have said.


Read more at Reuters.com Mergers News

CIT Group posts quarterly loss, cuts outlook

(Reuters) - CIT said it incurred a loss of $2.58 per share on the exit from its home lending and construction business.




The latest quarter's results included several charges.


Read more at Reuters.com Bonds News

Nordic Stocks Drop, Led by Statoil, Nokia; Handelsbanken Soars on Earnings

(Bloomberg) -- Nordic stocks fell for a second day,
led by Statoil ASA and Norsk Hydro ASA, the region's largest oil
companies. Atlas Copco AB dropped after HSBC Holdings Plc cut
its recommendation on the shares.

Svenska Handelsbanken AB jumped after the first major
Nordic bank to report second-quarter earnings said profit
unexpectedly rose 16 percent on higher commission and lending
income.


Read more at Bloomberg Stocks News

Brazil Central Bank May Cut Rate by Half-Point for Second Time This Year

(Bloomberg) -- Brazil's central bank today will
probably lower the benchmark interest rate for a 17th straight
time as the strongest exchange rate in almost seven years keeps
inflation in check.

The seven-member board will lower the overnight rate today
by a half-point to 11.5 percent at its almost monthly meeting in
Brasilia, matching the biggest cut of 2007, according to all 32
economists surveyed by Bloomberg. The bank has slashed the rate
7.75 percentage points from 19.75 percent in September 2005.


Read more at Bloomberg Emerging Markets News

US subprime concerns hit FTSE; Imperial Tobacco up

(Reuters) - Britain's top share index fell for the third straight day, down 0.8 percent by midday on Wednesday, on concerns over the troubled U.S. subprime mortgage market and its impact on the broader economy.

At 1030 GMT, the FTSE 100 was down 53.4 points at 6,605.7, along with other European markets, but mergers and acquisitions offered some respite, boosting shares in Imperial Tobacco and Sainsbury.


Read more at Reuters Africa

Singapore Petroleum Shares Rise to Record After Refining Margins Increase

(Bloomberg) -- Shares of Singapore Petroleum Co.,
the only oil refiner traded on the city state's stock exchange,
rose to a record on speculation a surge in refining profit may
boost second-quarter earnings.

The shares gained as much as 25 cents, or 4.1 percent, to
an all-time high of S$6.40 ($4.21), and traded at S$6.30 at
12:23 p.m. Singapore time.


Read more at Bloomberg Energy News

Singapore's Stocks Slide Most in Three Months; CapitaLand, DBS Decline

(Bloomberg) -- Singapore's stocks fell the most in
three months after the government increased the fee builders
have to pay to redevelop sites.

CapitaLand Ltd., the city-state's biggest developer, and
DBS Group Holdings Ltd., the largest lender, paced the decline.
Yongnam Holdings Ltd., the best-performing construction stock
this year, tumbled the most in more than four months.


Read more at Bloomberg Stocks News

Pound Advances to Highest in 26 Years on U.K.'s Rate Advantage Over U.S.

(Bloomberg) -- The pound climbed to a 26-year high
against the dollar on speculation the Bank of England will lift
interest rates this year as losses on U.S. subprime mortgages
prompt the Federal Reserve to stay on hold.

The U.K. currency rose for a fourth day after Bear Stearns
Cos. reported losses on U.S. hedge funds that bet on bonds backed
by subprime mortgages. The BOE today released minutes of its July
5 meeting, showing policy makers voted 6-3 in favor of raising
rates to a six-year high. Inflation exceeded its 2 percent target
for a 14th month in June, a report showed yesterday.


Read more at Bloomberg Currencies News

Shanghai copper higher, demand worries cap gains

(Reuters) - Shanghai copper nudged 0.5 percent higher on Wednesday due to a slight pick-up in the spot market, although concerns about continued oversupply in China were seen capping gains.

The most active Shanghai September copper futures contract rose 310 yuan to 64,470 yuan a tonne by the close.


Read more at Reuters Africa

Taiwan Bonds Decline on Higher Auction Yields; Currency Is Little Changed

(Bloomberg) -- Taiwan's 10-year government bonds
fell after the yield at a debt auction yesterday was higher than
expected. The currency was little changed.

The Ministry of Finance sold yesterday NT$20 billion ($609
million) of five-year bonds at a yield of 2.53, higher than
2.5172 percent in pre-auction trading, and less than 1 basis
point below the 2.538 percent yield for 10-year debt yesterday.


Read more at Bloomberg Bonds News