UPDATE 1-Japan PM suffers election drubbing, says to stay

(Reuters) - TOKYO, July 30 - Japanese Prime Minister Shinzo
Abe's conservative ruling camp suffered a crushing defeat in
upper house elections on Sunday, but the 52-year-old hawkish
leader insisted he would stay in his job despite the bashing.




"I am determined to carry out my promises although the
situation is severe," Abe said, after acknowledging that he was
responsible for the huge loss.


Read more at Reuters.com Bonds News

Japanese PM suffers election drubbing but stays on

(Reuters) - TOKYO, July 30 - Japanese Prime Minister Shinzo
Abe's conservative ruling camp suffered a crushing defeat in
upper house elections on Sunday, but the 52-year-old hawkish
leader insisted he would stay in his job despite the bashing.




"I am determined to carry out my promises although the
situation is severe," Abe said, after acknowledging that he was
responsible for the huge loss.


Read more at Reuters.com Bonds News

American Home Mortgage says faces margin calls

(Reuters) - These moves will allow the company to keep cash on hand
until it better understands the impact of market conditions on
its balance sheet and liquidity, American Home Mortgage said.







Read more at Reuters.com Bonds News

Cheapest Stocks in 16 Years Entice Investors After $2.1 Trillion Decline

(Bloomberg) -- Investors are preparing to snap up
shares of telephone, health-care and computer companies after
last week's $2.1 trillion global stock market rout left U.S.
equities the cheapest in 16 years.

``The window for buying is starting to open,'' said D.A.
Davidson & Co. chief market strategist Frederic Dickson, who
oversees $23 billion. His Great Falls, Montana-based firm plans
to buy drug and technology stocks as long as bond market losses
don't worsen.


Read more at Bloomberg Stocks News

Germany warn Siemens on Libya atomic deal - paper

(Reuters) - Germany's Environment Ministry and opposition Greens party have warned Siemens not to take part in a planned French nuclear deal with Libya, Handelsblatt reported.

French President Nicolas Sarkozy signed a memorandum of understanding for a nuclear energy deal with Libya during a visit there last week.


Read more at Reuters Africa

RPT-Japan PM says to stay on despite election defeat

(Reuters) - "The nation-building has just started. I would like to
deliver on my duty to proceed with reform as prime minister," he
told a news conference.




Read more at Reuters.com Bonds News

New Zealand Dollar is Overvalued and Will Fall, Agricultural Minister Says

(Bloomberg) -- The New Zealand dollar, the best
performer of 16 major currencies against the dollar in the past
year, is over-valued and will eventually decline, Agriculture
Minister Jim Anderton said today.

``There is no question it is overvalued,'' Anderton said in
e-mailed notes for a speech in Christchurch. ``A lot of the hot
money coming in here thinking it won't decline, will eventually
get burned because the dollar will, sooner or later, return to
more normal levels.''


Read more at Bloomberg Currencies News