Treasury Bear Market, Worst Since 1999, Muffled by Reserves, Derivatives

(Bloomberg) -- The steepest decline in Treasuries
since 2004 is convincing even the most bullish investors that U.S.
government bonds are now in a bear market.

Bill Gross, the manager of the world's biggest bond fund at
Pacific Investment Management Co., and Dan Fuss, whose Loomis
Sayles Bond Fund has been the best performer among its peers the
last decade, are preparing for higher market rates after yields
on 10-year Treasuries, the benchmark for home mortgages and
corporate borrowing, rose to a five-year high last week.


Read more at Bloomberg Bonds News

Airbus seen announcing Qatar, Emirates deals

(Reuters) - Airbus kicks off what is expected to be a busy week of commercial announcements with a news conference set for 10 a.m. with Qatar Airways, Dubai-based Emirates and others mooted as possible customers to announce major plane deals.




Emirates is set to place a provisional order worth more than $3 billion for 10 Airbus A380 superjumbo aircraft, industry sources said. The order will give a boost from the aircraft's biggest customer to the A380 program after a two-year delay.


Read more at Reuters.com Business News

Nokia unveils 3 new handsets, sees bigger market share

(Reuters) - While Nokia dominates the market for cheaper phones and has a wide line-up of pricier multimedia models, its weak spot in recent years has been the mid-range or 150-250 euro price level.




Urpo Karjalainen, Nokia's senior vice president for Asia- Pacific, said the models would take the total number of new handsets launched by the Finnish firm this year to 26.


Read more at Reuters.com Business News

Oil rises on thin US gasoline stocks, supply risks

(Reuters) - Oil prices edged up on Monday to extend last week's rally as dealers worried about supplies from Nigeria and the Middle East at a time of peak summer gasoline demand in the United States.

London Brent crude for August delivery, currently seen as more representative of the global market, rose 23 cents to $71.70 a barrel by 0153 GMT, after gaining 11 cents on Friday when it hit a 10-month high.


Read more at Reuters Africa

Swiss Lawmakers to Today Vote to Tighten `Toothless' Insider-Trading Laws

(Bloomberg) -- Swiss upper-house lawmakers will vote
today in favor of closing a legal loophole that allows insider
trading on advance knowledge of company earnings.

Switzerland's penal code requires jail terms or fines for
executives, directors or auditors who capitalize on knowing what
the rest of the market doesn't know. However, it limits such cases
to a planned sale of new shares, a merger or ``circumstances of
comparable significance.''


Read more at Bloomberg Bonds News

Cost of Living in Major U.S. Cities Falls as Dollar Weakens, Mercer Says

(Bloomberg) -- The sliding dollar has made it
cheaper for expatriates to work in U.S. cities such as New York
and Los Angeles, according to a cost of living index. Moscow
topped the list as the most expensive city for a second year.

New York dropped five places to 15th, and Los Angeles
slipped to 42nd from 29th in the rankings of the costliest
cities. Four other U.S. cities fell from the top 50, the index
produced by Mercer Human Resource Consulting showed.


Read more at Bloomberg Bonds News

Australian Coal Price Rises to Highest in Almost Three Years After Storm

(Bloomberg) -- The price for power-station coal at
Newcastle, Australia, the world's largest coal export port, rose
to the highest in almost three years after producers including
Rio Tinto Group cut shipments after a four-day storm.

The price of thermal coal for immediate delivery from the
port in New South Wales state increased $4.38 a metric ton to
$63.11 in the week ended June 15 from a week earlier, according
to the globalCOAL NEWC Index. The port resumed limited
operations last week and may run at near full capacity on June
20 after loadings were halted June 8.


Read more at Bloomberg Energy News