TREASURIES-Bonds steady at higher levels after 5-yr auction

(Reuters) - The benchmark 10-year note was trading 25/32
higher in price for a yield of 4.80 percent from 4.90 percent
late on Wednesday, while the two-year note _was 9/32
higher in price for a yield of 4.58 percent from 4.74 percent.




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UPDATE 1-H&R Block says Breeden role at KPMG poses conflict

(Reuters) - NEW YORK, July 26 - H&R Block Inc. said
on Thursday it has contacted federal investigators about a
possible conflict of interest involving dissident shareholder
Richard Breeden, the former U.S. Securities and Exchange
Commission chairman who is seeking three board seats.




Breeden was appointed by the Justice Department in 2005 to
monitor KPMG LLP's compliance with a $456 million settlement of
a probe accusing it of setting up fraudulent tax shelters for
wealthy clients.


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Brazil domestic debt rises 2.1 pct in June

(Reuters) - At the end of the month, floating-rate bonds linked to the
benchmark Selic lending rate accounted for 37.6 percent of the
domestic debt, down from 40 percent at the end of May.




Fixed-rate bonds accounted for 38.71 percent of the debt,
up from 37.02 percent a month earlier.


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UPDATE 1-US Treasury sees no breakthrough from China visit

(Reuters) - WASHINGTON, July 26 - U.S. Treasury Secretary
Henry Paulson will urge China to move faster to allow its yuan
currency to appreciate but does not expect a major breakthrough
on the issue when he visits Beijing next week, a senior
Treasury official said on Thursday.




Alan Holmer, the Treasury's special envoy to China, told
reporters that the trip was being made to support the
Treasury's strategic economic dialogue with China and was not
focused on near-term results.


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Mexican markets hammered by U.S. economy worries

(Reuters) - MEXICO CITY, July 26 - Mexican stocks, bonds and
the peso were slammed on Thursday as weak U.S. economic data
and fears of a global credit crunch caused investors to bail
out of risky assets worldwide.




The benchmark IPC stock index slumped 3.56 percent
to 29,996.60 points, its steepest one-day fall since Feb. 27,
when tumbling Chinese shares rattled global markets.


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Southern Co. earnings rise 11 percent

(Reuters) - Rate increases in Alabama and Mississippi to pay for environmental and infrastructure upgrades also helped results, Fanning said.




Those drivers were partly offset by higher operating costs from rising wages and commodity prices along with maintaining an expanding infrastructure. Interest expense also increased.


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Nuveen net up 5 pct, updates on buyout

(Reuters) - Providing an update on the $65-a-share buyout bid by private equity firm Madison Dearborn Partners LLC and other investors, Nuveen said it did not get any competing bids during the 30-day "go shop" period when it actively solicited other potential buyers.




"No proposals to acquire Nuveen were received during the go-shop period," Nuveen chief executive John Amboian told a conference call, adding that the Madison Dearborn buyout was expected to be completed by the end of 2007.


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