Putin Sees `New Balance of Power'; Seeks to Make Ruble a Reserve Currency

(Bloomberg) -- Russian President Vladimir Putin
assailed the dominance of the global economy by a small group of
developed countries and called on them to recognize a ``new
balance of power'' in the world.

``The new architecture of economic relations requires a
completely new approach,'' Putin said at the St. Petersburg
International Economic Forum today. Russia intends to become an
alternative global financial center and to make the ruble a
reserve currency for central banks, he said.


Read more at Bloomberg Currencies News

RPT-Wall St Week Ahead: Stocks still have room to extend rally

(Reuters) - NEW YORK, June 10 - U.S. stocks could move higher
this week after a bond market rout led investors to wonder if
the threat of inflation was on the horizon or if the economy
was actually stronger than expected, and good for stocks.




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 earlier.
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.


Read more at Reuters.com Bonds News