MORNING BRIEFS

*things looking up?
Bonds indicate economy on mend after Lehman collapse
The collapse of Lehman Brothers in September sent shock waves through financial markets, but bond traders worldwide said the bankruptcy and its fallout are fading away. Indicators, including falling money-market rates, reduced mortgage costs and more corporate-bond sales, all point to an economic recovery. Bloomberg (04 May.)

Distressed assets expected to attract new investors
Because hedge funds that previously focused on distressed assets are facing significant challenges, the asset class is attracting a new breed of investors. Sovereign-wealth funds, private banks, boutique finance firms and institutional investors are expected to step up as the financial landscape continues to change. FinanceAsia.com (04 May.)

Asian shares rally as signs of economic recovery emerge
Shares in Shanghai and Hong Kong posted large gains as markets across Asia advanced Monday. After being closed since Wednesday, Indian shares soared to extend an eight-week run. Hong Kong's Hang Seng Index surged 5.5%, Taiwan's Taiex jumped 5.6% and China's Shanghai Composite added 3.3%. Australia's S&P/ASX 200 rose 3%, South Korea's Kospi climbed 2.1% and New Zealand's NZX 50 was up 1.7%. Markets in Japan were closed. The Wall Street Journal (04 May.)

*not likely
Economists think U.S. unemployment has hit 25-year high
During April, joblessness in the U.S. likely reached its highest level in 25 years, economists said. For the fifth consecutive month, employers slashed 600,000 or more jobs, bringing the unemployment rate to 8.9%, according to the median estimate of economists surveyed by Bloomberg News. The Boston Globe/Bloomberg (04 May.)