UFO Info Week-End

* C$ finishes at 84

* C$ finishes at 84.32 U.S. cents Currencies  |  Bonds  |  Global Markets * Touches highest level in nearly 4 months * Move exaggerated by thin trade * Bond prices flat to lower (Adds details, quote) By Jennifer Kwan TORONTO, May 1 (Reuters) – The Canadian dollar shot higherversus the U.S. dollar on Friday as optimism that the economymay be on the road to stabilizing persuaded traders to buycurrencies considered to be higher risk. The Canadian dollar rallied as high as C$1.1831 to the U.S.dollar, or 84.52 U.S cents, its highest level since Jan 9. The move added to gains recorded over the past twosessions, but Friday’s move may have been exaggerated bythinner than normal trade with some European markets closed forthe May Day holiday. Momentum in recent sessions suggests the unwinding of “riskaversion” trades, helping to boost currencies such as theCanadian dollar as well as the Australian and New Zealanddollars, said Millan Mulraine, economics strategist at TDSecurities.

“There is growing sense of stabilization in the U.S.economy,” he said. “The recent flow of data have all pointed tothe green shoots we’ve talked about repeatedly and in somesense that’s causing a lot of investors to think they don’tneed to be as risk averse.” Adding to that was a report on Friday that signaled U.S.consumers felt much more upbeat about the economy in April.[ID:nN01402214] The currency finished the session at C$1.1859 to the U.S.dollar, or 84.32 U.S cents, up from C$1.1930 to the U.S.dollar, or 83.82 U.S cents, at Thursday’s close The Canadian dollar’s run-up reflected U.S dollarweakness “The U.S. dollar is being sold off as risk trades areslowing being brought back,” said J.P. Blais, vice president offoreign exchange at BMO Capital Markets.

The currency was also supported by a rally in equitymarkets, which rose on higher oil prices CLc1 and on thereport of improved U.S consumer confidence. [ID:nSP378801] BOND PRICES FLAT TO LOWER Canadian bond prices were mostly lower alongside the biggerU.S. Treasury market, where bond prices dropped as the upbeatconsumer confidence data dented the appeal of safe-haven bonds.[ID:nN01415364] “That’s also part of the story of the unwinding of the riskaversion trade,” Mulraine said. “Keep in mind people were rushing into Treasuries not toolong ago as they feared for the worst. As those fears recedeand confidence returns, a lot of positions are being unwound.” With large debt issuance in the United States and Canadanext week, supply concerns are also pressuring prices,strategists said. The two-year Canada bond ticked lower, down 1 Canadian centat C$100.53 to yield 0.991 percent, while the 10-year edgedhigher by 1 Canadian cent to C$105.65 to yield 3.093 percent. The 30-year bond sagged 5 Canadian cents to C$119.80 toyield 3.841 percent.

In the United States, the 30-year Treasuryyielded 4.0850 percent Canadian bonds mostly outperformed their U.S. counterparts.The 30-year yield was 24.4 basis points below its U.S.counterpart, compared to about 20 basis points on Thursday. (Reporting by Jennifer Kwan; editing by Peter Galloway) Currencies Bonds Global Markets. WASHINGTON (Reuters) – U.S.

lawmakers introduced legislation this week that would establish a new independent agency to spearhead government clean energy investments. Green BusinessThe bipartisan bill, introduced by Senate Energy and Natural Resources Committee Chairman Jeff Bingaman and ranking member Lisa Murkowski, would establish a Clean Energy Deployment Administration within the Energy Department.The new agency would provide various forms of credit including loans and loan guarantees to support environmentally friendly technologies that diversify the nation’s energy supply and reduce carbon dioxide emissions. A clean energy investment fund created from collected payments and fees would be used to start the agency.”New clean energy technologies will be needed to reduce America’s reliance on fossil fuels and lower the amount of greenhouse gases that our nation emits every day,” said Bingaman, a Democrat, in a statement.”This legislation is a bipartisan effort to position the U.S. Bingaman is hoping to have a comprehensive energy package approved by the panel by the Memorial Day holiday on May 25.(Reporting by Ayesha Rascoe; Editing by Lisa Shumaker) Green Business. DOWNINGTOWN, Pa., May 1, 2009 (GLOBE NEWSWIRE) — DNB Financial Corporation(“DNB”) (Nasdaq:DNBF), parent of DNB First, National Association, reported netincome for the three-month period ended March 31, 2009 of $480,000 compared to$409,000 for the same period in 2008.