TREASURIES-Bonds fall as stocks jump extinguishes rally

(Reuters) - NEW YORK, May 11 - U.S. government bond prices slid on Friday, reversing early gains as stocks climbed on easing inflation concerns, which sparked investor hopes of earlier rate cuts by the Federal Reserve than had been expected.

Investors' demand for stocks and other riskier assets undermined appetite for safe-haven Treasuries, analysts said.


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Retail sales drop, inflation muted

(Reuters) - A Commerce Department report on Friday showed sales by U.S. retailers fell 0.2 percent to a seasonally adjusted $372.03 billion last month, hurt by a one-two punch of soaring gasoline prices and a slumping housing market.

But separately, the Labor Department said that while costlier energy pushed producer prices up 0.7 percent in April, the so-called core rate that strips out food and energy costs was unchanged from March.


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Crude Oil Rises on Concern Gasoline Supplies May Be Insufficient in U.S.

(Bloomberg) -- Crude oil rose on concern that motor- fuel supplies may be disrupted this summer because of repairs at U.S. refineries and reduced oil output in Africa.

Repairs were announced yesterday at refineries in Texas and Delaware, curbing gasoline production. U.S. gasoline demand peaks during the summer driving season, which starts with the Memorial Day holiday at the end of this month. Total SA shut an oil field in the Republic of Congo after a fire yesterday. Nigerian output has been slashed over the past year because of attacks.


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DBS Group Sells $2 Billion of Bonds, Marking Asia's Largest Bank-Debt Sale

(Bloomberg) -- DBS Group Holdings Ltd., Southeast Asia's largest bank, raised $2 billion in its biggest sale of bonds as loans to customers increase.

Singapore-based DBS issued $1.5 billion of floating-rate notes and $500 million variable-rate securities maturing in 2017, according to data compiled by Bloomberg. The size of the offering was increased from a planned $1.75 billion, based on an e-mail sent to investors today.


Read more at Bloomberg Bonds News

Movie Gallery posts loss, sending shares lower

(Reuters) - Excluding a 58 cent per share charge to write off unamortized deferred financing fees related to Movie Gallery's senior credit facility, the company earned 11 cents per share.

Analysts on average had been expecting a profit of 53 cents a share, excluding items, according to Reuters Estimates.


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Global junk bond default rate rises in April - S&P

(Reuters) - S&P has frequently warned, however, that defaults may rise more sharply in future years because of a raft of issuance of very low rated bonds. In April, 48.7 percent of new junk bonds were rated in the highly speculative ranges of "B-minus" or lower, up from 44.4 percent in March, S&P said.




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Pound Logs Biggest Weekly Drop in 2-Months as Rate Path Matches Forecasts

(Bloomberg) -- The U.K. pound logged its biggest weekly drop against the dollar for two months after the Bank of England matched economists forecasts yesterday by raising interest rates a quarter-point.

The pound also fell for a third week on speculation its recent gain to around the $2 mark already reflects expectations for further rate increases. All 61 economists surveyed by Bloomberg News forecast policy makers would lift the Bank Rate to 5.5 percent yesterday.


Read more at Bloomberg Currencies News