Mexican Bonds, Peso Drop After U.S. Jobs Growth Slows, Missing Forecast

(Bloomberg) -- Mexican peso-denominated bonds fell
on renewed concerns that weakness in the U.S. housing sector
will spread to the broader economy and crimp demand for Mexico's
exports.

Yields on the government's 30-year bond, its longest peso-
denominated maturity, touched a one-week high after a U.S.
government report said employers added fewer jobs than
economists expected last month. The U.S. buys 80 percent of
Mexican exports.


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Yen holds gains, supported by risk aversion

(Reuters) - Traders said the yen took its cue from U.S. share prices, which slid on Tuesday after mortgage lender American Home Mortgage Investment Corp. said it could not fund home loans and might have to liquidate assets.




Risk aversion stemming from such falls in equities and worries about the U.S. housing and credit markets could prompt the dollar to eventually break below 118.00 yen, said a trader for a major Japanese trading house.


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Asian Stocks Decline, Led by Macquarie Bank, Sony on U.S. Subprime Rout

(Bloomberg) -- Asian stocks fell after a U.S. lender
said it lacks cash to fund new loans, reigniting concerns that a
decline in the country's subprime loan industry will curb growth
in the world's largest economy.

Macquarie Bank Ltd., Australia's largest securities firm,
plunged after it said investors in some of its high-yield funds
may lose as much as 25 percent of their money amid the fallout in
U.S. subprime mortgages. Sony Corp. led declines among exporters
on concern the U.S. housing rout will dent consumer spending.


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Advance in Euro, Pound Will Be `Next Big Move,' Says Morgan Stanley's Jen

(Bloomberg) -- The ``next big move'' in currency
markets is an advance in the euro, British pound and Australian
dollar as investors regain risk appetite and central banks raise
interest rates, says Morgan Stanley's Stephen Jen.

The three currencies have all slipped the past week as
investors cut risk and bought the relative safety of dollar-
denominated government bonds on concern a U.S. housing slump
will slow world growth. Recent turbulence in financial markets
will be contained amid a strong global economy, the
International Monetary Fund said today.


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U.S. Stocks Rise on Earnings; Archer Daniels, Humana Shares Advance

(Bloomberg) -- Stocks worldwide rebounded from a
$2.1 trillion sell-off after better-than-forecast earnings
eased concern that the U.S. housing slump will curb economic
growth.

Archer Daniels Midland Co., the world's largest grain
processor, and Humana Inc., the second-biggest provider of
U.S.-funded Medicare plans, climbed on profits that topped
analysts' estimates.


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UPDATE 2-U.S. H1 foreclosures jump, trending higher-RealtyTrac

(Reuters) - The spike in foreclosures reported by RealtyTrac
underscored another problem plaguing the U.S. housing market,
which has also been struggling with falling demand and hefty
inventory.




Analysts and the Federal Reserve have cited the housing
problem, exacerbated by the subprime blowup, as the biggest
risk to economic growth. Bond traders are betting that the Fed
would begin cutting interest rates later this year to cushion
the economy from a housing-led slowdown.


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HSBC says profits up 13 pct, but bad debts jump

(Reuters) - LONDON, July 30 - HSBC Holdings , Europe's biggest bank, reported a 13 percent rise in first-half pretax profits as a $1 billion one-off gain helped offset a jump in bad debts linked to its problems in the U.S. housing market.



HSBC said on Monday its charge for bad debts was $6.35 billion in the six months to the end of June, up 63 percent from $3.89 billion a year earlier.


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Treasuries Head for Third Weekly Gain as Investors Avoid Riskier Assets

(Bloomberg) -- Treasuries headed for a third weekly
advance, pushing yields near the lowest since May, as the slump
in U.S. housing prompts investors to avoid riskier assets.

Investors seeking the safety of government debt this week
pushed yields on two-year notes, most sensitive to changing
monetary policy, 70 basis points lower than the Federal Reserve's
target rate. The risk of owning corporate bonds soared to a
record on concern that banks and hedge funds face widening losses
on subprime mortgages and leveraged buyouts.


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Treasuries Snap Seven-Day Rally as Stocks Rise Before U.S. Reports Growth

(Bloomberg) -- Treasuries snapped a seven-day run
of gains as European shares and U.S. stock futures rebounded
before a report that's expected to show faster economic growth.

Bonds also pared a third weekly advance as technical charts
suggested the rally has been too rapid and some investors said a
U.S. housing slump won't prompt the Federal Reserve to cut
interest rates. The Commerce Department will probably say the
economy expanded at an annualized 3.2 percent pace, the fastest
in more than a year, according to a Bloomberg survey.


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US STOCKS-Indexes sink on housing, oil, credit fears

(Reuters) - NEW YORK, July 26 - U.S. stocks tumbled on
Thursday on signs of further deterioration in the U.S. housing
market, a jump in oil prices and a worsening climate for
financing corporate takeovers.




The broad Standard & Poor's 500 stock index fell 2 percent
at one point, and the steep decline led the New York Stock
Exchange to impose trading curbs which restrict large-block
sales when a stock was falling.


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European stocks at 3-month low, caught in global slide

(Reuters) - European shares fell across the board on Thursday, suffering their biggest daily drop in more than four months as a worsening environment for financing takeovers and worries about U.S. housing sparked risk aversion.

The pan-European FTSEurofirst 300 index closed 2.6 percent lower at a provisional 1,530.6, the lowest finish since April 2 and down for the third day in a row.


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Treasuries Rise, Pushing 10-Year Yield to Lowest in Month, on Subprime

(Bloomberg) -- U.S. Treasuries rose after Moody's
Investors Service cut the ratings on $5.2 billion of bonds
backed by subprime mortgages, spurring demand for the safest
assets.

Benchmark 10-year bonds gained for a third day, pushing
yields to the lowest in more than a month. German bunds also
advanced and Japanese government debt rallied the most in 10
months on speculation a deepening U.S. housing slump will slow
the world's biggest economy. Stocks fell in the U.S., Europe and
Asia, and the risk of owning European corporate bonds soared.


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Home Depot sees bigger profit drop on housing woes

(Reuters) - ATLANTA, July 10 - Home Depot Inc. on Tuesday forecast a deeper profit drop for 2007, citing weakness in the U.S. housing market.



The home improvement industry leader said it expected per-share profit for the full year to fall 15 percent to 18 percent to a range of $2.30 to $2.36 per share. In May, Home Depot had said earnings per share would fall 9 percent this year.


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D.R. Horton says qtly orders fall, sees loss

(Reuters) - NEW YORK, July 10 - D.R. Horton Inc., the largest U.S. home builder, on Tuesday said orders for new homes fell 40 percent last quarter, and said it would write down assets leading to a loss in its third quarter.



Hurt by the deteriorating U.S. housing market, Horton said its net sales orders in the fiscal third quarter, which ended June 30, fell to 8,559 homes from 14,316 homes a year earlier, and the dollar value of the orders dropped 47 percent to $2.0 billion from $3.8 billion.


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Meritage Homes sees revenue drop, to take charges

(Reuters) - BOSTON, July 6 - Meritage Homes Corp. said on Friday it expects second-quarter revenue to be down about 37 percent from a year ago and to record more than $100 million in charges as it struggles in a weak U.S. housing market.



The home builder said it has been particularly hard hit in the area of Fort Myers and Naples, along Florida's Gulf coast.


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WRAPUP 1-Paulson-US on guard against tainted Chinese goods

(Reuters) - During a wide-ranging interview with Reuters in which he said the beleaguered U.S. housing market was bottoming out, Paulson conceded that American attitudes toward China had soured over what some U.S. interests see as unfair trade tactics and worry about tainted food and other products.




"The perception of China in the U.S. has been on the negative side for some time because many in the U.S. are unhappy with the risks they see and some of the negatives they see in globalization," Paulson said.


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Japanese Exporter Stocks May Drop, Led by Sony, on U.S. Housing Concern

(Bloomberg) -- Japanese exporter stocks may drop,
extending the Nikkei 225 Stock Average's longest streak of
declines since early March. Sony Corp. may pace losses amid
signs the U.S. housing market is worsening, curbing demand.

Commodities-related shares such as Mitsubishi Corp. may
fall after prices of oil, copper, gold and other raw materials
slumped.


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Asian Stocks Fall for a Third Day on U.S. Spending Concern; Sony Declines

(Bloomberg) -- Asian stocks fell for a third day on
concern a slump in U.S. housing will curb spending in the
region's biggest export market.

Sony Corp., which made 70 percent of its sales overseas last
year, and Hon Hai Precision Industry Co., whose customers include
Apple Inc., led declines after sales of previously owned homes
fell to the lowest in almost four years.


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Asian Shares Decline on Concern Over U.S. Home Sales; China Stocks Plunge

(Bloomberg) -- Asian shares fell, led by Sony Corp.
and BHP Billiton Ltd., on concern figures this week will show a
drop in U.S. home sales, signaling declining demand in the
region's largest export market.

``Stocks globally take a fall every time there's more bad
news on U.S. housing-related or lending data because there's a
threat that this may spill over into other parts of the
economy,'' said Eric Betts, a strategist at Nomura Australia Ltd.
in Sydney. ``This wouldn't be good for companies that depend on
the U.S. consumer.''


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UPDATE 2-IMF's Rato sees U.S. economy regaining momentum

(Reuters) - TORONTO, June 19 - The U.S. economy is likely to
regain momentum as the drag from the current housing downturn
and softness in the business sector ease, the head of the
International Monetary Fund said on Tuesday.




In the text for a speech in Toronto, IMF Managing Director
Rodrigo Rato pointed to recent data showing a recovery in the
U.S. manufacturing sector, but cautioned the the situation in
the U.S. housing market was "more ambiguous".


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