The U.S. dollar gained sharply, and bond yields soared on Friday, but
global stocks were little changed after some investors viewed news of slowing
U.S. job losses in May as another sign of economic recovery.

While U.S. employers cut 345,000 jobs last month -- the fewest since
September last year and far less than economists had forecast -- unemployment
hit its highest rate in nearly 26 years, a reminder that the economy is far
from recovery. The unemployment rate raced to 9.4 percent, the highest since
July 1983, from 8.9 percent in April.

The smaller-than-expected loss of U.S. jobs in May slammed the U.S.
Treasury debt market on Friday, kindling fears the Federal Reserve might raise
interest rate sooner than previously thought.

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MARKET REPORTS:
> GLOBAL MARKETS-US dollar jumps, bonds slump, stocks steady [ID:nN05604417]
> US RATE FUTURES-Jobs report puts Fed 2009 rate hike in play [ID:nN05276580]
> MONEY MARKETS-Dollar costs up factoring in tighter policy [ID:nN0569893]
> EMERGING MARKETS-US Treasuries drop tightens spreads [ID:nN05303087]
MAIN ECONOMIC AND FINANCIAL NEWS DRIVING GLOBAL MARKETS
> US job losses slow but unemployment rate jumps [ID:nN05274048]
> Canada jobless rate spikes to 11 year high [ID:nN05253705]
> ECB cautions outlook still uncertain [ID:nL51009577]
> UK factory costs fall, construction output slumps in Q1 [ID:nL5999682]
> China ready to buy up to $50 bln of IMF bonds [ID:nL5261525]
ANALYSIS RELATED TO THE GLOBAL ECONOMIC CRISIS
> FED FOCUS-Federal Reserve to bond market: "We get it" [ID:nN05279806]
> US Treasury bloodbath soaks top fund managers [ID:nN03523331]
> What if US banks repay government aid money too fast ? [ID:nN05292829]
> GLOBAL MARKETS WEEKAHEAD - A return to volatility ? [ID:nL5229925]
> Tilt toward emerging markets to keep US dollar down [ID:nN04636207]
> Rising interest rates may rein in world equity rally [ID:nL3140790]
> Big investors in no hurry to quit stocks rally [ID:nL1159954]
> Federal Reserve puzzled by US yield curve steepening [ID:nN29436188]
> Can 'Government Motors' succeed where GM failed ? [ID:nN31400616]
> Obama financial reform, yet unwritten, faces battles [ID:nN29554001]
> Rising US bond yields may spark Credit Crisis II [ID:nN29511709]
FACTBOXES
> Draft agenda for G8 finance ministers meeting June 12-13 [ID:nL41010670]
> US banks raise $65 bln after stress tests [ID:nSP432506]
> Where has all the US bailout money gone ? [ID:nN0289041]
> The Federal Reserve's evolving liquidity toolkit [ID:nN19437787]
> Major US financial regulation reform initiatives [ID:nN14510432]
> Obama administration efforts to tackle financial crisis [ID:nN14509260]
> US regulators propose regulating OTC derivatives [ID:nN13627181]
> Facts and figures from Obama's budget [ID:nN06299995]
> US Treasury details toxic asset plan [ID:nLN437165]
> Full text ECB statement on rates, asset buying [ID:nECBTEXT]
> TEXT-G7 communique-April 24 [ID:nN24515491]
> World government actions to limit bank bad loan damage [ID:nLL193589]
> G20 summit final communique [ID:nL2577733]
> By the numbers: China's dragon vs India's elephant [ID:nPEK145951]