A gauge of U.S. corporate credit risk held at the lowest in almost two weeks as investors await congressional testimony this week from Federal Reserve Chairman Ben S. Bernanke and minutes of the central bank’s April meeting.
Treasuries fell, snapping a gain from yesterday, on concern benchmark yields that have dropped more than half a percentage point in the past three months will damp demand as the U.S. sells $99 billion of notes this week.
Moderating inflation pressure across most of Asia offers central banks scope to cut interest rates further in coming months, with Philippine Governor Amando Tetangco saying there is room for monetary easing.
European stocks rose as better-than- estimated earnings from Anheuser-Busch InBev NV to Adecco SA outweighed European Central Bank President Jean-Claude Trichet ’s suggestions that the ECB may boost interest rates next month.
The Kobe earthquake in 1995 sparked a 20 percent yen surge in three months. After the latest disaster, world leaders are uniting to ensure a stronger currency doesn’t derail efforts to rebuild the economy as Japanese officials flood the financial system with cash.