Gold, Silver Rise in New York as $70 Oil Sparks Demand for Inflation Hedge

(Bloomberg) -- Gold rose from a three-month low in
New York after oil topped $70 a barrel, boosting the appeal of
the precious metal as a hedge against inflation. Silver also
gained.

Gold sometimes moves in the same direction as oil, which
rose to a nine-month high today on speculation U.S. inventories
will drop. Before this year, gold has had six annual gains as
oil prices more than doubled.


Read more at Bloomberg Commodities News

UPDATE 2-U.S. housing market slower but still strong-Hubbard

(Reuters) - "Housing has slowed down but the good news is it continues
to be relatively strong," he told reporters at the U.S. embassy
after meetings in Berlin with German Chancellor Angela Merkel
and European Union officials.




"It's been healthy that there's been a slowdown and it's
contributed to what appears to be a soft landing," he said.


Read more at Reuters.com Bonds News

Carlyle cuts IPO price due to market "headwinds"

(Reuters) - "We have priced the deal at $19 a share. Originally, it was $20-$22," CEO John Stomber told Reuters in an interview.




Stomber said the volume of the IPO had been cut to $300 million from $400 million. The issue would be postponed but the new date was unclear.


Read more at Reuters.com Business News

UPDATE 1-GM selling Allison Transmission for $5.6 billion

(Reuters) - GM said the sale would include almost all of the Allison
Transmission unit's assets, including seven manufacturing
plants in Indianapolis and the unit's worldwide distribution
network.




GM had said in January that it was looking to sell Allison,
which makes transmissions for commercial trucks, buses and
military vehicles.


Read more at Reuters.com Bonds News

Alfa, Axtel, ICA, Medial Saude, Sonda Totvs: Latin America Equity Preview

(Bloomberg) -- The following stocks may make
significant gains or losses in Brazil, Chile and Mexico today.
Symbols are in parentheses after the company name, and stock prices
are from the last session.

In Brazil, preferred shares are the most commonly traded class
of stock.


Read more at Bloomberg Stocks News

Crude Oil Jumps Above $70 in New York on Increased Demand From Refiners

(Bloomberg) -- Crude oil jumped above $70 a barrel
to a nine-month high in New York on speculation that U.S.
inventories will slip as refineries increase output of gasoline
and other fuels.

Refineries operated at 89.4 percent of capacity last week, a
1.8 percentage point gain from the week before, an Energy
Department report yesterday showed. Plants are increasing
utilization to met demand for gasoline, which peaks during the
summer months. Gasoline, diesel and heating-oil supplies fell
last week, the report showed.


Read more at Bloomberg Energy News

Yen Weakens Versus Euro on Speculation Investors Are Restoring Carry Trade

(Bloomberg) -- The yen fell from a two-week high
against the dollar and weakened versus the euro as investors
resumed their search for higher yields outside Japan through so-
called carry trades.

The dollar fell versus the euro before the Federal Reserve's
interest-rate decision as policy makers are forecast to hold U.S.
borrowing costs at 5.25 percent. Japan's yen fell against all 16
of the most-active currencies as Bank of Japan Governor Toshihiko
Fukui said the central bank aims to adjust interest rates at a
gradual pace.


Read more at Bloomberg Currencies News