UPDATE 2-U.S. immigration reform advocates vow comeback

(Reuters) - WASHINGTON, June 8 - Backers of a broad U.S.
immigration overhaul on Friday began efforts to revive the
stalled bipartisan package in the U.S. Senate amid partisan
bickering over who is to blame for the bill's failure.




Sen. Edward Kennedy, a Massachusetts Democrat who helped
lead months of painstaking negotiations that produced the
fragile compromise, said: "We are not giving up. We are not
giving in."


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Stocks still have room to extend rally

(Reuters) - Major stock market gauges recovered on Friday after a bond sell-off pushed the benchmark 10-year U.S. Treasury note's yield up to 5.25 percent -- matching the fed funds rate target at one point -- from levels below 5 percent a week ago. That jump in government bond yields rattled investors who, skittish about a bull market that has lasted longer than most, worry that rising capital costs will cut corporate profits.




Around midday on Friday, stocks began rallying as the 10-year note's yield retreated to around 5.11 percent.


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Senator to seek private student loan crackdown

(Reuters) - "This legislation will help to ensure that students understand the products they are buying to help finance their education, and that unfair and deceptive practices in this market are outlawed," said Sen. Chris Dodd, a Connecticut Democrat and presidential candidate.




Dodd's committee held a hearing on Wednesday to look into questionable practices in the private student loan market, which now accounts for 20 percent of lending to college students. The remaining 80 percent comes from government-guaranteed and direct government loans.


Read more at Reuters.com Government Filings News

Brazilian Real Rebounds on Equities; Weekly Loss Largest Since May 2006

(Bloomberg) -- Brazil's real suffered its largest
weekly decline since May 2006 while eking out its first gain
this week on rising U.S. stocks that bolstered demand for
riskier, emerging market assets.

The real reversed early declines today, rebounding from a
three-week low. Emerging market currencies declined yesterday
after U.S. treasury yields breached 5 percent for the first time
since August.


Read more at Bloomberg Currencies News

U.S. immigration reform advocates vow comeback

(Reuters) - Sen. Edward Kennedy, a Massachusetts Democrat who helped
lead months of painstaking negotiations that produced the
fragile compromise, said: "We are not giving up. We are not
giving in."




The bill ties tough border security and workplace
enforcement measures to a temporary worker program and a plan
to legalize most of the 12 million illegal immigrants in the
United States. It also would create a new merit-based system
for future immigration.


Read more at Reuters.com Bonds News

Greek Pension Funds Accept Offer to Sell Disputed Bonds Back to JPMorgan

(Bloomberg) -- Four Greek pension funds that said
they were sold government bonds at inflated prices agreed to
accept a buyback proposal from underwriter JPMorgan Chase & Co.
after the government sweetened the bank's offer.

``We have received commitments in principle from all of them
to proceed with our proposed offer,'' Michael Golden, a spokesman
for New York-based JPMorgan, said in a statement.


Read more at Bloomberg Bonds News

Sprecher, Brodsky Say Further Talks on CBOE Legal Dispute Are Possible

(Bloomberg) -- The top executives of Intercontinental
Exchange Inc. and the Chicago Board Options Exchange said they
are open to further negotiations to resolve a longstanding legal
dispute between the CBOE and the Chicago Board of Trade.

Intercontinental Exchange Chief Executive Officer Jeff
Sprecher is working with CBOE to help his effort to break up the
Board of Trade's plan to sell itself to the Chicago Mercantile
Exchange. The CBOT has accepted a $10 billion acquisition offer
from the Chicago Mercantile Exchange over Sprecher's unsolicited
$10.8 billion bid.


Read more at Bloomberg Energy News