REUTER MONEY NEWS HIGHLIGHTS 0530 GMT
The Bank of Japan intervened in early aftenoon
trading to support the dollar against active selling by
institutional investors and speculative selling by overseas
operators, dealers said. (NRAV 0513) The dollar was 145.50 yen
at midday against 145.85 in New York and an opening of 145.95
yen. It was 1.8215/25 marks against 1.8260/70 in New York.
(FXJS 0336)
    WELLINGTON - New Zealand's budget deficit widened to 4.67
billion N.Z. Dlrs in the 11 months to February 28 compared with
3.83 billion for the same period a year ago, government
accounts show. (NRAP 0213)
    TOKYO - Central Bank Governor Satoshi Sumita said he would
support the issue of Reagan bonds, yen-denominated U.S.
Government securities, if it was considered appropriate, a
Japanese newspaper reported. (NRAN 0125)
    WASHINGTON - The mere reaffirmation of the Paris Agreement
on currency stability that Japanese Finance Minister Kiichi
Miyazwa is seeking in Washington this week will not be enough
to stop a further decline of the dollar, Japanese currency and
bond traders said. (NRAL 2258)
    WASHINGTON - The General Accounting Office is prepared to
recommend that the federal government take over the Farm Credit
System in order to stem further financial erosion and to
protect the government's financial interests in the beleaguered
farm lending network. (NRAD 2258)
    WELLINGTON - The weighted average yield for 50 mln N.Z.
Dlrs of 77-day Treasury bills sold in this week's regular
tender was 2*p_1yA Bank said. (NRAU 0420) The Bank also said it
is reducing itsiernight cash target to 30 mln dlrs from 45 mln
dlrs. (NRAL 2326)
    HONG KONG - Gold was trading at 421.10/60 U.S. Dlrs an
ounce at midday, up from the New York finish of 418.10/60 and
yesterday's close of 420.25/75.
    NEW YORK - After a few days of volatility, the credit
markets show signs of settling back into the frustratingly
narrow ranges that prevailed for much of the first quarter,
economists said. (NYFQ 2146) Credit markets lost some gains to
profit taking on an absence of retail followthrough support,
but still closed with modest gains, dealers said. Fed funds
ranged from 6-3/16 to 6-1/8 pct. Treasury bill rates fell two
basis points at three, six and 12 months. (NYFK 21512)
 REUTER
