Singapore Group Buys Rio Airport;Webber Closes Out F1 Career

Changi Airport Group Singapore Pte Ltd and Odebrecht SA have bid 8.3 billion reals for Rio's Galeao Airport.The airport will host the 2014 World Cup and 2016 Summer Olympics.About 600,000 visitors are expected for the World Cup alone,and auctioning the airport was a part of President Dilma Rouseff's plan for infrastructure improvement for Rio de Janeiro prior to the huge upcoming events.
If they can follow this up with three successful highway auctions,it could be really helpful in turning the boat of sentiment away from negative to more positive,said analyst Jefferson Finch of the Eurasia Group.
The Brazilian state management company Infraero will retain a 49% satke in the airport.The Latin American aviation market presents many growth opportunities,said the Singaporean acquirer Changi.We must focus immediatley on the expansion of the Galeao Airport.*
Australian Prime Minister Tony Abbott's Liberal/National Party coalition has fallen out of favour already,a new poll suggests.Only 11 weeks old,the coalition trails the Labour opposition 48%-52%.People are critical of the government's immigration and environmental policies,as well as Australian intelligence's alleged phone tapping of Indonesian leaders.*
In motor sport,Germany's Sebastian Vettel won the Brazilian Grand Prix at Sao Paolo Sunday,with his Red Bull Racing teammate Australian Mark Webber finishing his career with a second place showing,and Spaniard Fernando Alonso taking third for Ferrari.Webber,37,has retired from Formula One after compiling a record of 9 wins out of 215 races.Vettel,26,won his fourth straight World Driving Championship,while Alonso was second,and Webber third in the overall standings.
It was a very good finish,Webber said,a good fight with those I've fought with the last few years.It's been a great journey,one that I'm proud of.On to Porsche-I'm looking forward to it.*
Webber will race Le Mans sports cars for Porsche next season.He has already been fitted for his new seat and been released from his contract with Red Bull Racing.

Ranting and Raving:Stocks Down,Bond Yields Up

Stocks continued their downward momentum on Monday.I see a lot of companies whose stocks seem to be in the wrong place.They want to come down,cautions CNBC's Jim Cramer.
The Fed has lost control of the bond market.Everybody has to readjust.What if the ten year Treasury goes to three?A 3% Clorox is not as good as a 3% ten year.It's one of the bond market equivalents that don't work.It's just breathtaking to watch the TNX,the Treasury Yield Index,when you don't have a bond terminal.
There's a couple of higher yielding stocks and MLPs,master limited partnerships.I'm watching Brazil and the riots.Are they still gonna stage the Olympics?You can't even make money if you bet against the Olympics.
Who is gonna say the magic word that Fed fund rates are gonna go higher?That's something we don't want to hear.I feel Fed Chairman Bernanke is boxed in the corner.He has become the world's largest bond trader.
Copper under three scares me.China does worry me.I went to see a meerkat exhibition.They were all huddled together,clearly worried about the bond market.
Whirlpool has a giant Brazilian market.This is one of those "let them eat cake" situations.They're building the Olympics and forgetting the people.I rented out one of my homes for July.I need the income because of the Brazilian market.
I want the highest quality here.The earnings coming out this week will be a good tell,the popular expert investor Jim Cramer said.
The TNX-10 Year Notes closed at 25.48 on Monday,up 0.34,or 1.35%.
Whirlpool(WHR),Clorox(CLX)