Australia's Dollar Declines as Investors Shun Higher-Yielding Securities

(Bloomberg) -- The Australian dollar fell to the
weakest in a month against the U.S. currency and a two-month low
versus the yen as a slide in stocks eroded investor confidence to
buy higher-yielding assets with loans from Japan.

The currency fell for a third day as a 4.2 percent loss in
the Dow Jones Industrial Average last week led a worldwide slump
in shares. The local dollar this month reached an 18-year high
against its U.S. counterpart and the strongest in 16 years versus
the yen as rising equities encouraged investors to put on so-
called carry trades, in which they take advantage of Australia's
higher interest rates with borrowed money from Japan.


Read more at Bloomberg Currencies News

Japan's Stocks May Drop on U.S. Subprime Concern, Stronger Yen, LDP Defeat

(Bloomberg) -- Japanese stocks may drop after a
report on economic growth in the U.S. showed residential
investment slumping as the subprime problem worsens, pointing to a
weaker outlook for Japan's largest overseas market.

Toyota Motor Corp. and Sony Corp. may lead exporters lower
after the yen advanced to the highest against the dollar in more
than three months, reducing the value of their overseas sales.


Read more at Bloomberg Stocks News

New Zealand Dollar Falls to Four-Week Low, Investors Avoid Carry Trade

(Bloomberg) -- The New Zealand dollar fell to a
four-week low as falling global stock markets and U.S. subprime
mortgage losses prompted investors to avoid riskier assets.

The currency, known as the kiwi, is a favorite for the
carry trade, where investors borrow cheaply in yen to put their
funds in countries that offer higher yields. New Zealand's
record 8.25 percent benchmark interest rate is 7.75 percentage
points more than Japan's, luring traders to the higher returns
offered by the nation's fixed income assets.


Read more at Bloomberg Currencies News

Amazon.com, Brown Shoe, Deckers, NetGear, Rambus: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges
tomorrow. This preview includes news that broke after exchanges
closed. Stock symbols are in parentheses after company names.

Amazon.com Inc. (AMZN US): Shares of the world's biggest
online retailer are too expensive after this past week's
increase, and expansion plans threaten its profit margins,
Barron's said, citing no one. Amazon stock rose 3 cents to
$84.04 on July 27.


Read more at Bloomberg Stocks News

Union ratifies trash collection contract in Calif

(Reuters) - The contract includes "strong wage and pension increases
and protection from future cost increases in health care," the
group said.







Read more at Reuters.com Bonds News

Paulson's Yuan Appreciation Anticipated by Pictet, Western Asset's Trades

(Bloomberg) -- Investors from Switzerland to
California are banking on U.S. Treasury Secretary Henry Paulson
convincing China to let its yuan appreciate more than 5 percent
in coming months.

Western Asset Management Co. in Pasadena and Pictet Asset
Management in Geneva are buying contracts tied to the future
value of the yuan, driving the price so high that the currency
must strengthen at least 5.5 percent in the next 12 months
before they see any profit. The so-called non-deliverable
forwards are rising at the fastest pace in two years.


Read more at Bloomberg Currencies News

In China, Paulson eyes debate shift to environment

(Reuters) - Aiming to keep his strategic economic dialogue with China
on track amid controversies over Chinese product and food
safety and currency legislation gaining momentum in the U.S.
Congress, Paulson will visit Qinghai lake in western China on
Monday before meeting President Hu Jintao and Vice Premier Wu
Yi on Tuesday and Wednesday.




The lake and surrounding glacial watershed are threatened
by global warming and encroaching desert, with Paulson saying
the area was a strong symbol of the need for U.S.-China
cooperation on environmental issues.


Read more at Reuters.com Bonds News