Treasuries Drop Most in Three Weeks on Increases in U.S. Hiring, Services

(Bloomberg) -- Treasuries declined the most in three
weeks after private reports showed the U.S. added more jobs last
month than economists forecast and services industries
unexpectedly accelerated.

Demand for U.S. government debt fell as the risk of holding
European corporate bonds dropped and concern over terrorist
incidents in the U.K. eased. A Labor Department report tomorrow
may increase speculation a stronger job market is increasing the
risk inflation will accelerate.


Read more at Bloomberg Bonds News

Italian Stocks Fall on Rate Concerns, Paced by Intesa Sanpaolo, Alitalia

(Bloomberg) -- Italian stocks fell for the first day
in six, led by Intesa Sanpaolo SpA, Italy's second-biggest bank,
on concerns interest rates will keep rising.

Alitalia SpA declined after Il Sole reported that some of
the banks funding Air One's bid for the national carrier may
drop out of the group.


Read more at Bloomberg Stocks News

U.S. Stocks Decline as Bond Yields Jump; GM, Financial Shares Lead Retreat

(Bloomberg) -- U.S. stocks fell for the first time
this week, led by financial shares, after a rise in Treasury
yields raised concern investors will buy bonds to lock in an
improving rate of return.

General Motors Corp., the biggest U.S. automaker, slid after
reporting a drop in U.S. sales last month. Bank of America Corp.,
JPMorgan Chase & Co. and Goldman Sachs Group Inc. led banks to
the steepest decline in the Standard & Poor's 500 Index.


Read more at Bloomberg Stocks News

Randgold to upgrade Ivorian mine, seeks output rise

(Reuters) - African miner Randgold Resources expects to upgrade planned production at its new mine in Ivory Coast, helping the firm to boost output by over 50 percent by 2011, its chief executive said on Thursday.

The firm, currently operating two mines in Mali, plans to ramp up production to around 650,000 ounces a year by 2011 from 400,000 ounces currently, CEO Mark Bristow told a presentation.


Read more at Reuters Africa

Carphone Warehouse Delays Debut Bond Sale, Citing Debt Market Volatility

(Bloomberg) -- Carphone Warehouse Group Plc, Europe's
largest mobile-phone retailer, postponed its debut sale of bonds
because of market volatility.

``We tested the water and the water was a bit cold,''
Peregrine Riviere, the London-based company's head of investor
relations, said in an interview today. ``We'll come again when
the market looks better.''


Read more at Bloomberg Bonds News

Treasuries Fall Most in Three Weeks as Private Jobs Report Beats Forecast

(Bloomberg) -- Treasuries fell the most in three
weeks after a private report showed companies in the U.S. added
more jobs last month than economists forecast, reducing the
likelihood of a cut in borrowing costs by the Federal Reserve.

Investors also sold government debt after the U.K. reduced
its terror alert and the U.S. Independence Day holiday passed
without incident, easing demand for the safety of government
debt. A Labor Department report tomorrow may increase
speculation a stronger job market is increasing the risk
inflation will accelerate.


Read more at Bloomberg Bonds News

U.S. jobless claims rose 2,000 last week

(Reuters) - Wall Street analysts had forecast a rise in claims to
315,000 from an initial reading of 313,000 in the week ended
June 23.




The closely watched four-week moving average, which
flattens the more volatile weekly fluctuations, rose for the
sixth straight week to its highest level since April 28. The
four-week average rose to 318,500 from 316,750.


Read more at Reuters.com Economic News