Daily FNArena News

The US has experienced two days of solid wheat price gains following crop news from the Ukraine and wet weather in Kansas.

US bonds bounced back over 5.25% last night putting the frighteners through Wall Street once again. Nickel found a vacuum.

It’s been a common mantra for a couple of years now, but predictions of the inevitable collapse of the world’s reserve currency are gaining currency in all corners of the globe.

National Australia Bank’s Monthly Business Survey for May shows conditions in the dometic economy remain strong and should remain so in coming months.

State-owned Chinese aluminium giant Chinalco has acquired Canadian-listed Peru Copper in a portent of things to come.

Inflation fears sparked the sell off on Wall Street last week, and this week brings US PPI and CPI data. Things are relatively quiet in Australia until the RBA governor speaks on Thursday.

Friday night saw a strong pullback in US stock markets while last night closed flat. Gold crashed under US$650/oz on Friday but managed a rally back to safety last night.

You’d thing a mining equipment hire company could write its own cheques in this market, but it’s just not the case. Thank God for private equity interest.

It’s just speculation, but Bell Potter’s Peter Quinton believes the Chinese government may be sizing up the world’s largest mining company.

Selling in US bonds overnight saw yields trade over the hoodoo 5% level, sending equities and metals well into the red.