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Energy futures are trading mostly lower today following comments by Fed Chairman Bernanke last night on a dimmer U.S. economic outlook due to a resurgence of financial strain and following news late yesterday that Canada’s Enbridge had restarted 3 of 4 key pipelines from Canada to the U.S...

ASIA Nikkei-225 - The Nikkei-225 rose 1.1% to 15,680, the highest closing level in 3 weeks, as shipping and steel stocks gained. There was also an added boost from the comments from Fed Chairman Bernanke, who suggested that the FOMC was close to lowering interest rates again. (RTRS) U.S...

Threat of inflation remains, says King (FT)** The paper notes that BoE's King warned that inflation poses a serious threat to the U.K., despite weak housing market data yesterday. Many U.K. newspapers this morning are putting a lot of attention on the housing market following yesterday's...

ASIA JGBs - The benchmark 10-year futures contract was up 7 ticks to 137.03 by 0625, after more comments from Fed officials and recent weak data prompted further speculation that the FOMC would cut interest rates at its next meeting. Some of the gains were offset by a solid rebound in stocks...

Energy futures are rising today after Calgary-based Enbridge closed four pipelines shipping 1.5M b/d of oil supplies from Canada to the U.S. following a leak and explosion at the No. 3 pipeline at the Clearbrook terminal in Minnesota, where the pipelines meet. WTI crude futures rallied more than...

ASIA The Nikkei rose 2.38% to a two-week closing high on a softer yen and a sharp rally on Wall Street inspired by the chances of a US rate cut (RTRS) Oil prices rebounded by over $1 a barrel after an explosion and fire at an oil terminal in Minnesota shut down most of the main pipeline...

Nationwide house prices (Nov) M/M -0.8% vs Exp. 0.1% (Prev. 1.1%), Y/Y 6.9% vs Exp. 8.4% (Prev. 9.7%) (RTRS)** UK house prices fall the most in 12 years this month. Nationwide predicts house prices will stagnate next year after gaining as much as 8% in 2007 as borrowing costs at a six-year high...

ASIA JGB's were lower (-0.14) at 0630, weighed by the rally in the Nikkei (+2.38%) and a fall in UST's overnight. Fan Gang, a member of the PBOC monetary policy committee, said China must continue to pursue a policy of gradual Yuan appreciation (Shanghai Securities News) However, Fan said...

Energy futures are trading mixed today on a stronger dollar, with the US Dollar Index gaining 0.61% to 75.618 in European trade, and following mixed signals by OPEC on a potential output increase at the cartel’s meeting next week on Dec. 5. The Saudi oil minister, al Naimi, reiterated...

ASIA The Nikkei fell 0.5% as growing concerns about the US economy and the dollar's slip against the yen put Toyota Motor Corp and other exporters under pressure (RTRS) Oil fell below $94 a barrel, while nagging fears that a credit market squeeze will sap global growth weighed on the dollar...

BOE's Sentance: 'oil, commodity prices pose CPI pressures, setting rates will be hard due to growth and inflation risks' (RTRS)** Sentance said little to indicate which way rates would move next. He also said that the outlook for growth in the Euro Zone key to UK, UK economy has probably passed...

ASIA JGB's rose to 137.10 by 0655, as investors remained doubtful of a quick resolution to global credit problems, with many financial institutions still struggling with losses from the slumping US housing sector (RTRS) GLOBAL FIXED INCOME SPREADS: US 2s/10s (0630): 88.87 bps (87.36 bps...

Energy futures are trading lower today on a stronger dollar following a $7.5 billion investment by Abu Dhabi’s investment arm into Citigroup, supportive comments by the Indonesian and Iraqi oil ministers of a 500k b/d increase in output at OPEC’s December meeting and confirmation by the...

ASIA The Nikkei ended up 0.6% after a rollercoaster day that saw it climb more than 510 points from low to high, with bank shares such as Mizuho Financial Group at the front of the action (RTRS) US crude oil futures extended losses to hover just above $97 a barrel as traders used a slump...

ASIA JGB's tumbled as the Nikkei rebounded sharply (+0.58%) after Citigroup said it has reached a deal to sell a USD 7.5bln stake to the Abu Dhabi Investment Authority (RTRS) At 0630 JGB's were trading 136.89 (+0.10). BoJ's Fukui said contact with banks is key factoring policy decisions...

Energy futures are trading mostly higher this morning on a weaker dollar after the UAE said that it is reviewing its US dollar peg and forecasts of below normal temperatures across most of the country during the first week of December. Also supporting prices were comments by the chief economist...

DAX Volkswagen - The company's works council filed a legal complaint against the automaker's biggest shareholder, Porsche, setting up a challenge over board representation. (BBG) In other news, the company's Spanish Seat division will return to operating profit in 2007. (El Pais)** Lufthansa...

ASIA Nikkei-225 - The Index was up 1.7% in volatile trading to 15,135 on reports that one of China's largest sovereign wealth funds would be buying Japanese equities, although the report was not officially confirmed by the fund. (RTRS) U.S. US stocks rebounded on Friday in a shortened...

TODAY'S NEWS Hometrack U.K. House Prices ease for a second month in a row (MNI)** House prices fell 0.2% m/m, but are still up 3.6% from a year ago. In related news, the Times says that soaring repayments could lead to a mortgage crisis for Britons, similar to the one occurring in the U.S...

ASIA JGBs - The benchmark 10-year note was down 55 ticks to 136.79 by around 0630, after a report suggested that the Chinese government's investment arm is expected to invest some of its assets in Japanese stocks. The move came despite the fact that no sovereign wealth funds confirmed any...