Turkish June Foreign Trade Gap Widens for Second Month on Material Imports

(Bloomberg) -- Turkey's trade deficit widened 18
percent in June from a year earlier, the second consecutive
increase, as industry drew in raw materials for manufacture of
products to export.

The trade gap grew to $5.5 billion from a revised $4.7
billion in the year-earlier period, the statistics agency in
Ankara said on its Web site today. The deficit was forecast to be
$4.8 billion, according to the median estimate of 13 economists
surveyed by Bloomberg.


Read more at Bloomberg Emerging Markets News

South Africa eyes import tariff cuts to aid manufacturing

(Reuters) - South African President Thabo Mbeki said on Sunday his government may cut tariffs on some imported equipment and goods in a bid to boost the manufacturing sector and make it more competitive internationally.

In a briefing to discuss the outcome of a mid-year meeting of his cabinet and other senior officials, Mbeki said a healthier manufacturing sector was critical to the government's efforts to narrow the country's trade deficit.


Read more at Reuters Africa

Retail Sales Stalled in June Amid Housing Recession: U.S. Economy Preview

(Bloomberg) -- Sales at U.S. retailers stalled in
June following the biggest gain in more than a year as the
housing recession led consumers to tighten their belts, a report
this week may show.

Retail sales were probably unchanged last month after a 1.4
percent gain in May, according to the median estimate in a
Bloomberg News survey ahead of a July 13 report. Rising fuel
prices boosted the cost of imports, caused the trade deficit to
swell and hurt consumer confidence, other reports may show.


Read more at Bloomberg Bonds News

Rand gains from trade, bonds consolidate

(Reuters) - South Africa's rand gained on the dollar on Friday after a smaller than expected trade deficit, while bonds firmed in step with the currency.

The rand was trading at 7.0425 against the greenback, 0.75 percent above its New York close after touching a five-week high of 7.0280.


Read more at Reuters Africa

Higher Bond Yields Signal Gains for Stocks on Economy, Lessening Inflation

(Bloomberg) -- Is the five-year stock market rally
threatened by the highest bond yields since 2002? Some of the
world's biggest investors say no.

LPL Financial Services, Bank of America Corp. and BlackRock
Inc., which together oversee $1.9 trillion, say the three-month
increase in yields shows investors are selling bonds in
anticipation of faster economic growth -- not a pickup in
inflation. Their evidence includes falling gold prices and a
narrowing trade deficit.


Read more at Bloomberg Stocks News