Hybrids

Citic in talks to buy Bear stake - China's Citic Bank is in talks to take a stake in Bear Stearns, a senior Communist party official has revealed [Financial Times - Financial Services]

Merrill's Neptune deal ends up in court - The high-profile deal between shipping company Neptune Marine and a group of investors introduced by Merrill Lynch, hits an unexpected legal roadblock. [Finance Asia]

YIELD ALPHA is a strategy aiming for enhanced money market returns. The strategy targets returns of 2.0% above a cash investment, and aims to keep volatility below 2%.

The strategy provides investors with a viable alternative to standard money market investments. At a relatively low cost investors are able to access strategies that previously were only available to large institutions or (at high cost) through hedge funds.

Commodity prices were steadier on Thursday after the International Monetary Fund raised its 2007 forecast for global economic growth to 4.9 per cent from 4.7 per cent previously. The IMF also provided an upbeat assessment for the outlook for non-energy commodity prices in its twice yearly update on the global economy.

The IMF is forecasting 10 per cent growth in China this year with its rapid industrial expansion expected to contribute about half of future demand growth for aluminium and copper.....

....the IMF which also said there was little evidence that speculative investments were a significant driver of price movements......