Bonds

Americas

Treasuries Decline as Stocks Rally, U.S. Prepares for Record Debt Auction Treasuries fell on speculation demand will decline at a record $30 billion three-year auction today as investors seek higher yields in stocks and corporate bonds.

Fed Aims to Narrow Spread Between Consumer, Corporate Rates and Treasuries Federal Reserve officials are focused on driving down the spreads between U.S. Treasury yields and consumer and corporate loans, after cutting the main interest rate to almost zero failed to revive lending.

Richardson Adviser Helped JPMorgan Win New Mexico Bond Deals Under Review One of New Mexico Governor Bill Richardson’s senior political advisers lobbied the state on behalf of JPMorgan Chase & Co., which won a leading role on municipal bond deals under federal scrutiny and played a part in his decision to withdraw from becoming U.S. commerce secretary.

Fannie and Freddie's Bills Gain as `Next Least Risky' Debt, Federated Says Yields on short-term Fannie Mae, Freddie Mac and Federal Home Loan Bank debt have tumbled relative to U.S. Treasuries because investors are flocking to funds with safe returns that exceed record-low government rates, Federated Investors Inc.’s Debbie Cunningham said.

Europe

Record U.K. Gilt Sales Raise Risk of Failed Auctions, DMO's Stheeman Says Britain may overwhelm bond investors with a record number of quarterly debt sales, risking the first failed auctions since 2002 as the economy sinks into the worst recession since World War II.

European Government Bonds Drop Most in Almost 4 Months Before Debt Sales European government bonds fell by the most in almost four months before sales of debt in the euro region this week and as gains in equity markets eroded investor demand for the safest assets.

European, U.S. Bond Yields Likely to `Ratchet Higher' on Supply, ING Says Yields on U.S. Treasuries and European bonds may rise as governments increase sales of the securities, according to ING Groep NV.

Asia

Japanese 10-Year Bonds Fall as Traders Prepare for Tomorrow's Debt Auction Japan’s 10-year government bonds fell for a third day, the longest losing streak in more than two months, as dealers prepared for an auction of the debt tomorrow.

Philippines to Sell $500 Million Bonds Overseas to Fund Increased Spending The Philippines will sell at least $500 million of 10-year dollar-denominated bonds to fund increased spending as economic growth may slow to the weakest in eight years.

Asia-Pacific Bond Risk Falls to Lowest Since November, Default Swaps Show The cost of protecting bonds from default fell to the lowest since November in Australia and Asia as government efforts to stimulate economic growth boosted investor confidence.

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