India, Indonesia, Malaysia, Singapore, Sri Lanka: Asia Local Bond Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Asian local-currency bonds
today. Yields are from the previous session.

China: China Development Bank, a state-owned lender, will
sell 20 billion yuan ($2.64 billion) of 10-year bonds on Aug. 1.
China will maintain a tight monetary policy to prevent the
economy from ``overheating,'' Xinhua News Agency reported July
27. The government will apply ``moderate and tight monetary
policies to cool the growth pace in the economy and improve
quality and efficiency of the growth,'' Xinhua said, citing a
statement by the Chinese Communist Party's Political Bureau.


Read more at Bloomberg Bonds News

Yen Advances to Three-Month High Versus Euro on Reduced Appetite for Risk

(Bloomberg) -- The yen climbed to a three-month
high against the euro on speculation a defeat for Japan's Prime
Minister Shinzo Abe's led ruling coalition will push down stocks
and spur investors to exit so-called carry trades.

The yen reached 160.67 against the euro, the highest since
April 24, before trading at 161.02 at 7:46 a.m. in Tokyo from
161.67 late in New York yesterday. It also rose to 118.26 per
dollar from 118.63, after climbing to 118.03.


Read more at Bloomberg Currencies News

Valero's Port Arthur Refinery Releases Odorous Vapor From Faulty Oil Tank

(Bloomberg) -- Valero Energy Corp., the largest
U.S. refiner, said a faulty storage tank at its Port Arthur,
Texas, refinery, yesterday released smelly vapors.

``Due to a mechanical problem with a roof of a storage tank
at the Valero Port Arthur Refinery on Saturday, there was a
release of vapors that caused a noxious odor,'' spokesman Bill
Day said. ``Refinery officials notified the proper authorities
and immediately began efforts to halt the release.''


Read more at Bloomberg Energy News

Gold May Rebound on Investment Demand for Dollar Alternative, Analysts Say

(Bloomberg) -- Gold may rebound on speculation that
the dollar will resume a slide against the euro, boosting the
appeal of the precious metal as an alternative investment.

Fourteen of 27 traders, investors and analysts surveyed by
Bloomberg from Sydney to Chicago on July 26 and July 27 advised
buying gold, which fell 1.8 percent last week to $672.30 an ounce
on the Comex division of the New York Mercantile Exchange. Nine
said to sell, and four were neutral.


Read more at Bloomberg Commodities News

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