Bonds

Americas

Treasuries Are Little Changed Before Government's Record Three-Year Sale Treasury three-year notes were little changed before a record $30 billion auction of the securities.

Mizuho's Takei, Who Predicted Treasury Rally, Bets on 30-Year Bond in 2009 Akira Takei at Mizuho Asset Management Co., who correctly predicted rallies in U.S. government debt for the past two years, is betting on 30-year Treasury bonds for 2009.

Frank Says Obama Agrees `In Principle' to Set Limits on Remaining TARP Aid House Financial Services Committee Chairman Barney Frank said he has “agreement in principle” with President-elect Barack Obama to release $350 billion from the U.S. bank-rescue fund in return for commitments to help homeowners and restrict executive bonuses.

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 Advance as Stock Losses Spur Demand for Safety European government notes advanced on signs inflation is slowing and as stock markets in the region declined, boosting demand for the safest assets.

ING Recommends Investors Buy Inflation Bonds Rather Than Conventional Debt Investors should buy inflation-protected bonds over conventional notes, according to ING Groep NV, the largest Dutch financial-services company.

Asia

Japanese 30-Year Government Bonds Decline as Dealers Prepare for Auction Japan’s 30-year government bonds fell for a second day on speculation dealers reduced holdings of debt in preparation for an auction of 1.9 trillion yen ($20.3 billion) in 10-year notes tomorrow.

Philippines Starts $500 Million Dollar Bond Sale to Finance Extra Spending The Philippines started selling dollar bonds in Asia’s first public sale of high-yield foreign- currency debt this year, giving the government funds to respond to the worst economic slump in eight years.

Asia-Pacific Bond Risk Falls to Lowest Since November on Stimulus Optimism 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.

Money Managers Warm to Asian Corporate Debt as Relative Yields Shout `Buy' Asian corporate bonds, which plunged to record lows last year, are attracting money managers again as investors anticipating a glut of new sovereign paper switch out of lower yielding government securities.

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