Asian shares, industrial commods recover on economic optimism

TOKYO (Reuters) - Nascent global economic recovery buoyed risk assets from Asian shares to industrial commodities on Wednesday, while the prospect of a dovish new governor for the Bank of Japan sent the yen to a three-year low.

The signs of a recovery taking hold in Europe, the United States and China have helped improve the demand outlook for oil, copper and platinum while a solid reading for euro zone business activity supported the euro.

The slide in the yen bolstered Japanese equities to their highest since October 2008 while expectations of more monetary easing pushed two-year Japanese government bond yields down to a nine-year low of 0.045 percent.

The MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> added 0.3 percent, tracking a more than 1 percent gain overnight in the Standard & Poor's 500 Index <.spx> and the Nasdaq Composite Index <.ixic> on data showing the U.S. services sector extended a three-year expansion in January.

In Asia, investors have been quick to book profits as prices approached their highs, but analysts and traders say any dip was likely to be seen as a chance to buy back into the market.

The pan-Asian index scaled a 18-month high on Monday, and was up about 2.3 percent so far this year, still modest compared to the S&P's nearly 6 percent gain in the same period.

Australian shares <.axjo> rose 0.8 percent, leading regional peers.

"Investors are positioning themselves for further upside moves while global economic data provides cause for optimism," said Tim Waterer, senior trader at CMC Markets.

Brent crude futures were up 0.1 percent to $116.64 a barrel, while U.S. crude was steady at $96.65, hovering near a 20-week high.

London copper rose 0.3 percent to $8,291.25 a tonne after nearing a four-month high of $8,322, while platinum hit a four-month high of $1,714.75 an ounce.

European markets are seen inching higher, with financial spreadbetters predicting London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> would open flat to up 0.1 percent. A 0.1 percent gain in U.S. stock futures suggested a firm open on Wall Street. <.l><.eu><.n/>

YEN TAKES CENTRE STAGE

Expectations for stronger reflationary policies from the Band of Japan intensified after BOJ Governor Masaaki Shirakawa said he would step down on March 19, three weeks earlier than the official end of his five-year term, leaving at the same time as his two deputies. His decision raised the prospect that the next BOJ governor will more readily adopt the expansionist monetary policy demanded by Prime Minister Shinzo Abe.

The dollar touched 94.075 yen to its highest since May 2010, while the euro also rose to 127.71 yen, its strongest since April 2010. The Aussie reached a 4-1/2 year peak around 97.42 yen. The pound touched a 3-year high near 147.25 yen.

Japan's benchmark Nikkei stock average <.n225> soared 3.8 percent to close at a 52-month high. <.t/>

"The momentum in Japan is continuing to favour yen weakening and a risk-on mood," said Stefan Worrall, director of cash equity sales at Credit Suisse in Tokyo.

Despite recent rallies, the Nikkei remains below levels before the 2008 financial crisis while the S&P 500 and Germany's benchmark stock index have both already exceeded that level.

EURO ALSO RESILIENT

The euro was steady around $1.3570, above a key technical support of its 14-day moving average at $1.34653.

The euro drew support from growing confidence in the region's economy and improving funding conditions for deeply-indebted euro zone members.

News the European Central Bank's balance sheet fell to an 11-month low of 2.8 trillion euros ($3.8 trillion) as markets unwound some of the ECB's crisis funding measures underpinned the euro, appearing in stark contrast to the U.S. Federal Reserve and the BOJ which keep expanding asset buying.

"Flows matter more than stock in currency markets when comparing central bank balance sheets ... highlighting the euro's outperformance over the last few months," said Ashraf Laidi, chief global strategist at City Index, in a note to clients.

The ECB is expected to keep interest rates unchanged at its policy meeting on Thursday, but its president may face a grilling over an Italian banking scandal.

Spanish and Italian yields fell on Tuesday after jumping on worries over a corruption scandal in Spain and polls showing Italy's former prime minister Silvio Berlusconi regaining ground before elections this month.

The yen's fall lifted benchmark Tokyo gold futures to a record high of 5,067 yen per gram on Wednesday.

(Additional reporting by Thuy Ong in Sydney and Ayai Tomisawa and Sophie Knight in Tokyo; Editing by Sanjeev Miglani and Eric Meijer)

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IHT Rendezvous: IHT Quick Read: Feb. 6

NEWS Individual strikes by Predator and Reaper drones are almost never discussed publicly by U.S. officials. But the clandestine war will receive a rare moment of public scrutiny on Thursday, when its chief architect, John O. Brennan, the White House counterterrorism adviser, faces a Senate confirmation hearing as President Obama’s nominee for C.I.A. director. Robert F. Worth reports from Sana, Yemen, and Mark Mazzetti and Scott Shane from Washington.

Bulgaria’s interior minister announced that two of the people behind a July 18 bombing, which killed five Israeli tourists, a Bulgarian bus driver and the bomber, were believed to be members of the military wing of Hezbollah. The finding could have wide-reaching repercussions for Europe’s détente with the Lebanese militant group. Nicholas Kulish and Matthew Brunwasser report from Sofia, and Eric Schmitt from Washington.

President Mahmoud Ahmadinejad made the first visit by an Iranian leader to Egypt since the two countries broke off diplomatic relations three decades ago. Kareem Fahim and Mayy El Sheikh report from Cairo.

The House of Commons voted overwhelmingly to approve a bill legalizing same-sex marriage in Britain, indicating that the bill is assured of passage as it moves through further legislative stages. John F. Burns and Alan Cowell report from London.

Zhu Ruifeng, who became a celebrity of sorts after posting online a sex video involving a Chinese government official, says he will release more videos involving others. Andrew Jacobs reports from Beijing.

Dell announced that had agreed to go private in a $24 billion deal led by its founder and the investment firm Silver Lake, in the biggest leveraged buyout since the financial crisis. Michael J. de la Merced and Quentin Hardy report.

Liberty Global, the international cable company owned by the American billionaire John C. Malone, agreed to buy the British cable company Virgin Media for about $16 billion. Mark Scott reports from London and Eric Pfanner from Paris.

Asia Pulp and Paper, one of the largest pulp and paper producers in the world, said that it had stopped clearing natural forests across its supply chains in Indonesia, accelerating an earlier commitment to do so by 2015. Sara Schonhardt reports from Jakarta.

ARTS Have you ever awakened from a dream wanting to replay events? That’s just the start of the appeal of the West End revival of “Old Times,” the Harold Pinter play being presented with its two exemplary actresses, Kristin Scott Thomas and Lia Williams, swapping roles. Matt Wolf reviews from London.

The Netherlands Opera perseveres in presenting imaginative repertory absorbingly staged. Last week it turned to a masterpiece of the 19th century with an uplifting new production of Rossini’s final opera, “Guillaume Tell.” George Loomis reviews from Amsterdam.

SPORTS The Olympic champion Lindsey Vonn, whose record-breaking ski racing career has frequently mixed stirring triumph with frightening spills, tore two knee ligaments in a tumbling crash Tuesday and will need reconstructive surgery. Kelley McMillan reports from Schladming, Austria, and Bill Pennington from New York.

When England and Brazil face off Wednesday in London, the two soccer teams will feature players who will have the chance to show they now have the responsibility to match their sizable talents. Rob Hughes reports from London.

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Kim Kardashian's Pregnancy Is No Reason to Speed Divorce, says Kris Humphries

By Mike Fleeman

02/05/2013 at 09:20 PM EST

Kris Humphries and Kim Kardashian

Seth Browarnik/StarTraks

Kim Kardashian's baby is not even born yet and already is being drawn into mama's divorce.

Kardashian, carrying boyfriend Kanye West's child, has bristled at what she sees as stall tactics by estranged husband Kris Humphries to close the legal books on their 72-day marriage.

But Humphries's lawyer Marshall W. Waller writes that "what is really going on here is that an 'urgency' in the form of an apparently unplanned pregnancy" is being used by Kardashian as "an opportunity to gain a litigation advantage (to) prematurely set this matter for trial."

He adds parenthetically that the pregnancy is "something (Humphries) had nothing to do with."

Waller explains his reasoning for calling the pregnancy as unplanned: "Indeed, why would (she) plan to get pregnant in the midst of divorce proceedings?"

Kardashian, herself, recently addressed the timing.

"God brings you things at a time when you least expect it," she said last month. "I'm such a planner and this was just meant to be. What am I going to? Wait years to get a divorce? I'd love one. It's a process."

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Critics seek to delay NYC sugary drinks size limit

NEW YORK (AP) — Opponents are pressing to delay enforcement of the city's novel plan to crack down on supersized, sugary drinks, saying businesses shouldn't have to spend millions of dollars to comply until a court rules on whether the measure is legal.

With the rule set to take effect March 12, beverage industry, restaurant and other business groups have asked a judge to put it on hold at least until there's a ruling on their lawsuit seeking to block it altogether. The measure would bar many eateries from selling high-sugar drinks in cups or containers bigger than 16 ounces.

"It would be a tremendous waste of expense, time, and effort for our members to incur all of the harm and costs associated with the ban if this court decides that the ban is illegal," Chong Sik Le, president of the New York Korean-American Grocers Association, said in court papers filed Friday.

City lawyers are fighting the lawsuit and oppose postponing the restriction, which the city Board of Health approved in September. They said Tuesday they expect to prevail.

"The obesity epidemic kills nearly 6,000 New Yorkers each year. We see no reason to delay the Board of Health's reasonable and legal actions to combat this major, growing problem," Mark Muschenheim, a city attorney, said in a statement.

Another city lawyer, Thomas Merrill, has said officials believe businesses have had enough time to get ready for the new rule. He has noted that the city doesn't plan to seek fines until June.

Mayor Michael Bloomberg and other city officials see the first-of-its-kind limit as a coup for public health. The city's obesity rate is rising, and studies have linked sugary drinks to weight gain, they note.

"This is the biggest step a city has taken to curb obesity," Bloomberg said when the measure passed.

Soda makers and other critics view the rule as an unwarranted intrusion into people's dietary choices and an unfair, uneven burden on business. The restriction won't apply at supermarkets and many convenience stores because the city doesn't regulate them.

While the dispute plays out in court, "the impacted businesses would like some more certainty on when and how they might need to adjust operations," American Beverage Industry spokesman Christopher Gindlesperger said Tuesday.

Those adjustments are expected to cost the association's members about $600,000 in labeling and other expenses for bottles, Vice President Mike Redman said in court papers. Reconfiguring "16-ounce" cups that are actually made slightly bigger, to leave room at the top, is expected to take cup manufacturers three months to a year and cost them anywhere from more than $100,000 to several millions of dollars, Foodservice Packaging Institute President Lynn Dyer said in court documents.

Movie theaters, meanwhile, are concerned because beverages account for more than 20 percent of their overall profits and about 98 percent of soda sales are in containers greater than 16 ounces, according to Robert Sunshine, executive director of the National Association of Theatre Owners of New York State.

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Asian shares drop on euro zone worry, soft U.S. data

TOKYO (Reuters) - Asian shares, oil and the euro fell on Tuesday as investors took profits from recent rallies, while the yen got a respite from broad-based selling.

European markets are seen barely changed, with financial spreadbetters predicting London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> would open up nearly flat. But a 0.1 percent gain in U.S. stock futures suggested a firm open on Wall Street. <.l><.eu><.n/>

The MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> tumbled 0.9 percent, dragged lower by a steep 1.7 percent fall in Hong Kong shares <.hsi>. The pan-Asian index climbed to a 18-month high on Monday.

Japan's benchmark Nikkei stock average <.n225> closed down 1.9 percent, after scaling a 33-month high on Monday. <.t/>

Positive data from China failed to brighten the bearish mood, after the Standard & Poor's 500 Index <.spx> had its worst day since November on Monday on discouraging U.S. factory orders and worries that a potential political shake-up could disrupt the euro zone's efforts to resolve its debt crisis.

Analysts and traders said selling was a correction to markets rallying on receding tail risks such as growing euro zone stability and an improving global economic outlook, while global monetary easing still underpinned sentiment.

"This move in equities ... looks to be a healthy correction, nothing more," said Richard Yetsenga, Head of Global Markets at ANZ Research, adding that downside risk would likely convince major central banks globally to stick to easy policy.

In China, the HSBC services purchasing managers' index rose to a four-month high of 54 in January from December's 51.7, underlining confidence in the world's second-biggest economy, which is expected to grow 8.1 percent this year, off a 13-year low of 7.8 percent hit in 2012.

"The data globally is unquestionably better but the recovery still seems gradual. (China) hit the bottom and they had a bit of a bounce but nothing much else happened. We don't really seem to have preconditions for a much stronger bounce than that (8 percent growth)," Yetsenga said.

The Australian dollar fell 0.3 percent to $1.0405 after the Reserve Bank of Australia kept its cash rate steady at 3.0 percent, as expected, having just cut in December. Australian shares <.axjo> fell 0.5 percent but trimmed some earlier losses after the RBA's rate decision.

The euro took the brunt of renewed focus on the euro zone problems, having risen 2.3 percent so far this year against the U.S. dollar, up about 5.4 percent against sterling and 1.8 percent higher against the Australian dollar.

The euro eased 0.2 percent to $1.3485, retreating further from Friday's 14-1/2-month peak of $1.3711, ahead of the European Central Bank's policy meeting on Thursday.

"Markets have been increasingly comfortable with European risks over the past few months and are largely not positioned for this increase in political problems. The outcomes in Spain and Italy are far from certain and may represent stumbling blocks for further expansion in risk appetite," Barclays Capital said in a research note.

Spain's opposition party on Sunday called for Prime Minister Mariano Rajoy to resign over corruption allegations, which Rajoy denies, pushing Spanish 10-year bond yields to six-week highs.

In Italy, 10-year Italian government bond yields hit their highest since late December, as chances of former prime minister Silvio Berlusconi regaining power raised worries about Rome's ability to fix its fiscal problems.

The yen took a breather, firming from lows against a broad range of currencies.

The dollar steadied at 92.36 yen after scaling its highest since May 2010 of 93.185 on Monday, while the euro eased 0.1 percent to 124.53 yen, off its loftiest since April 2010 of 126.97 hit on Friday.

"Markets are broadly undergoing a correction and the euro is definitely facing profit-taking, given the pace of its climb. Worries about the euro zone debt crisis always remain a downside risk for the euro, and could push it lower to $1.32-$1.33," said Hiroshi Maeba, head of FX trading Japan at UBS in Tokyo. "But the trend is still upward for dollar/yen, cross/yen. The dollar could reach 95 yen by the end of the month."

As long as markets hold out expectations for the Bank of Japan to implement aggressive monetary easing to beat decades of deflation in Japan, the yen will stay pressured. Any correction to the dollar's rise against the yen was also be seen as shallow, with many traders and analysts seeing a firm floor around 87-88 yen.

Italy & Spain bond yields: http://link.reuters.com/gat45t

Asset returns in 2013: http://link.reuters.com/dub25t

China, EU, US Services PMI: http://link.reuters.com/dyh85s

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Asian credit markets faltered with the plunge in equities, widening the spread on the iTraxx Asia ex-Japan investment-grade index by three basis points.

Brent crude slipped towards $115 per barrel, giving up some of its gains from the last three weeks, on renewed euro zone worries and a slightly firmer dollar.

(Editing by Eric Meijer)

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India Ink: Where a Poet's Vision Lives on in India

Sami Siva for The New York Times

Students have class outdoors at the school Tagore started, now known as Visva-Bharati University.

Great writers often shape our impressions of a place. Steinbeck and Dust Bowl Oklahoma, for instance. Sometimes a writer might even define a place, as Hemingway did for 1920s Paris. Rarely, though, does a writer create a place. Yet that is what the Indian poet and Nobel Prize winner Rabindranath Tagore did with a town called Shantiniketan, or “Abode of Peace.” Without Tagore’s tireless efforts, the place, home to a renowned experimental school, would not exist.

For Indians, a trip to Shantiniketan, a three-hour train ride from Kolkata, is a cultural pilgrimage. It was for me, too, when I visited last July, in the height of the monsoon season. I had long been a Tagore fan, but this was also an opportunity to explore a side of India I had overlooked: its small towns. It was in places like Shantiniketan, with a population of some 10,000, that Tagore — along with his contemporary Mohandas K. Gandhi — believed India’s greatness could be found.

As I boarded the train at Kolkata’s riotous Howrah Station, there was no mistaking my destination, nor its famous resident. At the front of the antiquated car hung two photos of an elderly Tagore. With his long beard, dark eyes and black robe, the poet and polymath, who died in 1941, looked like a benevolent, aloof sage, an Indian Albus Dumbledore. At the rear of the car were two of his paintings, one a self-portrait, the other a veiled woman. Darkness infused them, as it does much of Tagore’s artwork, unlike his poems, which are filled with rapturous descriptions of nature. As the train ambled through the countryside, Tagore’s words echoed in my head. “Give us back that forest, take this city away,” he pleaded in one poem.

The son of a Brahmin landlord, Tagore was born in Calcutta, as Kolkata was called back then, in 1861. He began writing poetry at age 8. In 1913, he became the first non-Westerner to receive the Nobel Prize for Literature. The committee cited a collection of spiritual poems called “Gitanjali,” or song offerings. The verses soar. “The traveler has to knock at every alien door to come to his own, and one has to wander through all the outer worlds to reach the innermost shrine at the end,” reads one.

Tagore became an instant international celebrity, discussed in the salons of London and New York. Today, Tagore is not read much in the West, but in India, and particularly in West Bengal, his home state, he remains as popular — and revered — as ever. For Bengalis, Tagore is Mark Twain, Walt Whitman, Andy Warhol and Steven Sondheim — with a dash of Martin Luther King Jr. — rolled into one. Poet, artist, novelist, composer, essayist, educator, Tagore was India’s Renaissance man. He was also a humanist, driven by a desire to change the world, which is what he intended to do in Shantiniketan. Upset with what he saw as an India that mooched off other cultures — “the eternal ragpickers of other people’s dustbins,” he said — he imagined a school modeled after the ancient Indian tapovans, or forest colonies, where young men meditated and engaged in other spiritual practices. His school would eschew rote learning and foster “an atmosphere of living aspiration.”

Equipped with this vision — and unhappy with Calcutta’s transformation from a place where “the days went by in leisurely fashion,” to the churning, chaotic city that it is today — Tagore decamped in 1901 to a barren plain about 100 miles north of Calcutta. Tagore’s father owned land there, and on one visit experienced a moment of unexpected bliss. He built a hut to mark the spot, but other than that and a few trees, the young Tagore found only “a vast open country.”

Undaunted, he opened his school later that year, readily admitting that it was “the product of daring inexperience.” There was a small library, lush gardens and a marble-floored prayer hall. It began as a primary school; only a few students attended at first, and one of those was his son. Living conditions were spartan. Students went barefoot and meals, which consisted of dal (lentils) and rice, were “comparable to jail diet,” recalled Tagore, who believed that luxuries interfered with learning. “Those who own much have much to fear,” he would say.

Eric Weiner, author of “Man Seeks God: My Flirtations With the Divine,” is working on a book about the connection between place and genius.

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New BlackBerry to be released in US in mid-March

TORONTO (AP) — The chief executive of Research In Motion said he’s disappointed the new BlackBerry won’t be released in the United States until mid-March, but he said early data suggests sales in the U.K. are above expectations.

Thorsten Heins said in an interview Monday with The Associated Press that he was disappointed in the mid-March U.S. release date. But he said the U.S. and its phone carriers have a rigid testing system.

“We need to respect that. Am I a bit disappointed? Yeah, I would be lying saying no. But it is what it is and we’re working with all our carrier partners to speed it up as much as we can,” Heins said in an interview at the Ritz Carlton in Toronto.

RIM unveiled new BlackBerrys last week after excruciating delays allowed Apple, Samsung and others to build commanding leads in the industry. The stock fell 12 percent after Wednesday’s kickoff, despite positive reviews about the new BlackBerry 10 operating system. There’s concern the phone isn’t coming out sooner after RIM announced a March U.S. release date last week.

Heins told the AP that it will be mid-March.

The first device in the new crop of the much-delayed revamped BlackBerrys will be the touchscreen Z10. Black and white versions were released in the U.K. last Thursday and will be released in Canada on Tuesday.

Heins said a substantial number of U.K. users are moving from other platforms to BlackBerry and said that’s an encouraging sign because they first targeted longtime BlackBerry users.

“It’s beyond expectations,” Heins said. “White is sold out already. The black is hard to stock up again. It’s very encouraging. I won’t share the number because I need to verify it, but we are getting a substantial number of users moving from other platforms to BlackBerry. That is an interesting data point.”

Shares of RIM closed up 15 percent Monday on initial reports of strong U.K. sales and after an analyst upgraded the stock.

Heins said they have to retake market share in the U.S. for BlackBerry to be successful. The U.S. has been one market in which RIM has been particularly hurting, even as the company is doing well in many places overseas. According to research firm IDC, shipments of BlackBerry phones plummeted from 46 percent of the U.S. market in 2008 to 2 percent in 2012. The iPhone and Android now dominate.

Heins, who one year ago replaced longtime executives who had presided over BlackBerry’s fall, said he’s confident BlackBerry can become the third ecosystem behind Apple and phones running Google’s Android operating system.

“We need to win back market share to be relevant,” Heins said. “We have to be aggressive in the U.S. market.”

The new BlackBerrys are a make-or-break product lineup after the pioneering brand lost its cachet not long after Apple’s 2007 release of the iPhone, which reset expectations for what a smartphone should do.

RIM promised a new system to catch up, using technology it got through its 2010 purchase of QNX Software Systems. But it has taken more than two years to unveil new phones that are redesigned for the new multimedia, Internet browsing and apps experience that customers are now demanding. RIM initially said the new BlackBerry with the revamped software would come by early 2012, but then the company changed that to late 2012. A few months later, that date was pushed back further, to early 2013, missing the lucrative holiday season. The holdup helped wipe out more than $ 70 billion in shareholder wealth and 5,000 jobs.

As RIM previously disclosed, the first phone will have only a touch-screen keyboard, like Apple Inc.‘s trend-setting iPhone and most phones running Android, including Samsung Electronic Co.’s popular Galaxy line.

The Q10 will follow and will have a physical keyboard, a feature that has kept BlackBerry users loyal over the years because it makes typing easier. RIM said last week the Q10 will start going on sale on some global carriers in April, but didn’t say when U.S. carriers will have it.

Heins told the AP it depends on the carriers, but said keyboard versions will likely be released eight to 10 weeks after a carrier releases the touch version.

That could mean the Q10 keyboard version might not be released in the U.S. until much later than mid-March or April.

Some analysts have questioned RIM for releasing a touch version first considering its most loyal users love the physical keyboard for typing.

Heins said the full touch screen was more complicated and they needed to focus on releasing that first. He has also acknowledged that RIM failed to quickly adapt to the emerging “bring your own device” trend, in which employees bring their personal touch-screen iPhones or Android devices to work instead of relying on BlackBerrys issued by their employers

Heins said they want to participate in that trend by releasing a touch version first.

Heins also addressed possible interest other companies might have in RIM should BlackBerry 10 prove successful and whether the Canadian government might block a foreign takeover.

“The recognition for BlackBerry 10 and what we built is pretty high. We got good reviews,” he said. “That moves you into the middle of the radar screen so I expect some activity around it but we’ll look at it one by one. We’ll assess it and we’ll make decisions with the board on what make sense.”

Heins recently chatted with top Canadian government ministers, including the industry minister, at the World Economic Forum in Davos.

“These guys are reasonable, rational people. At the end of the day it’s about employment, it’s about economic health, it’s about Canada playing a major role,” Heins said. “If the right logic and rational applies I don’t think they will just block it for their own sake. They could have done it with Nortel and the patents.”

Several months ago RIM’s decline evoked memories of Nortel, a former Canadian tech giant, which declared bankruptcy in 2009 and was picked over for its patents.

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Jillian Michaels: My Son Phoenix Is 'Fiery' Like Me

Mom & Babies
Celebrity Baby Blog

02/04/2013 at 03:00 PM ET

Gregg DeGuire/WireImage

Jillian Michaels‘ son Phoenix is already taking after his mama — just not the expected one!

Although The Biggest Loser trainer expected her baby boy to inherit her partner’s laidback approach to life — Heidi Rhoades delivered their son in May — the 8-month-old’s budding personality is the polar opposite.

“He wants to walk and he gets really pissed about it when he can’t. He gets frustrated,” Michaels, 38, told PEOPLE at the recent TCAs.

“He’s a fiery little sucker, he’s just like me. I’m like, ‘You were supposed to be like Heidi!’ But he’s not. It’s not good, not good.”

Admitting she is “terrified for when he’s a teenager,” Michaels has good reason to be: Recently she spotted her son — who is “crawling aggressively” — putting his electrician skills to the test in the family room.

“He’s into everything, which is kind of a nightmare to be totally honest,” she says. “We have an outlet in the floor in the living room and I caught him eating the outlet on the floor … I was like, ‘Mother of God!’”

Phoenix’s big sister Lukensia, 3, has also been busy keeping her mamas on their toes. “Lu just had her first ski trip and she had a little crush on her teacher, Ollie,” Michaels shares.

“At first I was like, ‘Oh my God, we’re letting our baby go!’ The second day we took her she ran right to him — loves Ollie.”

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Bullying study: It does get better for gay teens

CHICAGO (AP) — It really does get better for gay and bisexual teens when it comes to being bullied, although young gay men have it worse than their lesbian peers, according to the first long-term scientific evidence on how the problem changes over time.

The seven-year study involved more than 4,000 teens in England who were questioned yearly through 2010, until they were 19 and 20 years old. At the start, just over half of the 187 gay, lesbian and bisexual teens said they had been bullied; by 2010 that dropped to 9 percent of gay and bisexual boys and 6 percent of lesbian and bisexual girls.

The researchers said the same results likely would be found in the United States.

In both countries, a "sea change" in cultural acceptance of gays and growing intolerance for bullying occurred during the study years, which partly explains the results, said study co-author Ian Rivers, a psychologist and professor of human development at Brunel University in London.

That includes a government mandate in England that schools work to prevent bullying, and changes in the United States permitting same-sex marriage in several states.

In 2010, syndicated columnist Dan Savage launched the "It Gets Better" video project to encourage bullied gay teens. It was prompted by widely publicized suicides of young gays, and includes videos from politicians and celebrities.

"Bullying tends to decline with age regardless of sexual orientation and gender," and the study confirms that, said co-author Joseph Robinson, a researcher and assistant professor of educational psychology at the University of Illinois in Urbana-Champaign. "In absolute terms, this would suggest that yes, it gets better."

The study appears online Monday in the journal Pediatrics.

Eliza Byard, executive director of the Gay, Lesbian & Straight Education Network, said the results mirror surveys by her anti-bullying advocacy group that show bullying is more common in U.S. middle schools than in high schools.

But the researchers said their results show the situation is more nuanced for young gay men.

In the first years of the study, gay boys and girls were almost twice as likely to be bullied as their straight peers. By the last year, bullying dropped overall and was at about the same level for lesbians and straight girls. But the difference between men got worse by ages 19 and 20, with gay young men almost four times more likely than their straight peers to be bullied.

The mixed results for young gay men may reflect the fact that masculine tendencies in girls and women are more culturally acceptable than femininity in boys and men, Robinson said.

Savage, who was not involved in the study, agreed.

"A lot of the disgust that people feel when you bring up homosexuality ... centers around gay male sexuality," Savage said. "There's more of a comfort level" around gay women, he said.

Kendall Johnson, 21, a junior theater major at the University of Illinois, said he was bullied for being gay in high school, mostly when he brought boyfriends to school dances or football games.

"One year at prom, I had a guy tell us that we were disgusting and he didn't want to see us dancing anymore," Johnson said. A football player and the president of the drama club intervened on his behalf, he recalled.

Johnson hasn't been bullied in college, but he said that's partly because he hangs out with the theater crowd and avoids the fraternity scene. Still, he agreed, that it generally gets better for gays as they mature.

"As you grow older, you become more accepting of yourself," Johnson said.

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Online:

Pediatrics: http://www.pediatrics.org

It Gets Better: http://www.itgetsbetter.org

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AP Medical Writer Lindsey Tanner can be reached at http://www.twitter.com/LindseyTanner

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Asian shares advance after U.S. jobs, ISM

TOKYO (Reuters) - Asian shares climbed to 18-month highs on Monday after U.S. data showed some promise of a credible recovery but not strong enough to threaten the Federal Reserve's easing plans, while momentum also gained on firmer manufacturing data from Europe and China.

The yen took a break from heavy selling against the U.S. dollar and the euro, but fell to its lowest since August 2008 against the Australian and New Zealand dollars early on Monday on confidence of bold monetary support from the Bank of Japan to overcome the country's stubborn deflation.

More confidence in global economic recovery underpinned oil and copper prices while weighing on safe-haven assets, pushing 10-year U.S. Treasury yields to a nine-month high and 10-year Japanese government bond yields to a three-week high.

European markets are likely to inch higher, with financial spreadbetters predicting London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> would open up by around 0.1 percent. U.S. stock futures were little changed, pointing to a steady open on Wall Street. <.l><.eu><.n/>

The MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> rose 0.6 percent.

"Prices of risk assets are generally expected to face upward pressures," said Naohiro Niimura, a partner at research and consulting firm Market Risk Advisory. "While risk appetite is returning, prices may become top-heavy for some commodities markets where the relative strength index suggests an overbought territory under the current economic environment."

Brent crude eased 0.2 percent to $116.48 a barrel but held above $116, near a more than four-month high, as data from top consumers United States and China reinforced a view that the global economy was headed for a modest uptick this year.

"We are now seeing a consistent story of moderate growth in the U.S. and China, which is supportive of oil prices in general," said Ric Spooner, chief market analyst at CMC Markets in Sydney. "This will probably be a week of consolidation."

U.S. data out on Friday showed payrolls rose modestly last month, with upward revisions for November and December, while the Institute for Supply Management said its index of national factory activity rose to its highest since April.

China followed with positive news over the weekend, saying growth in its official purchasing managers' index (PMI) for the non-manufacturing sector ticked up in January for the fourth straight monthly rise, confirming the world's second-largest economy was showing a modest recovery.

Australian shares <.axjo>, however, lost their grip on early gains to end 0.3 percent lower, pulled down by weaker-than-expected housing data, slow job advertising and technical resistance. They jumped 0.9 percent to a 21-month high on Friday.

NIKKEI MAY BE PEAKING

Japan's benchmark Nikkei stock average <.n225> rose 0.6 percent after climbing to a fresh 33-month high earlier as the yen declined. The index climbed for a fifth straight day. <.t/>

Nikkei has been moving in tandem with the yen's two-month-long losing streak with investors eyeing the change in the BOJ's top personnel in April for clues to the likely extent of the bank's reflationary measures.

"The Nikkei may be nearing its peak for now as we may get a specific name of the most likely candidate for the next BOJ governor soon. That may provide an opportunity to close long dollar/yen positions, while a firming yen will then likely spur investors to book profits on Japanese stocks," said Tetsuro Ii, the chief executive of Commons Asset Management.

The dollar eased 0.2 percent to 92.64 yen after scaling its highest since May 2010 of 92.97 on Friday, while the euro fell 0.3 percent to 126.26 yen, still near its loftiest since April 2010 of 126.97 touched on Friday.

In early Monday trade, the yen plunged to its lowest since August 2008 against both the Australian dollar, at 96.78 yen, and against the New Zealand dollar at 78.74 yen.

The euro inched down 0.1 percent to $1.3628, off Friday's 14-1/2-month peak of $1.3711 hit after data showed euro zone factories had their best month in January in nearly a year.

On Friday, the dollar index measured against a basket of key currencies fell to a 4-1/2-month low of 78.918 <.dxy>. The index was up 0.2 percent on Monday.

As economic optimism rose and concerns about the euro zone's debt difficulties eased, investors took on more risk.

Research provider TrimTabs Investment Research said on Saturday investors poured a record $77.4 billion in new cash into stock mutual funds and exchange-traded funds in January, surpassing the previous monthly record of $53.7 billion in February 2000.

With the rise in equities on recovering appetite for riskier assets, safe-haven appeal waned, pushing up yields of U.S. Treasury bonds. The U.S. 10-year Treasury yield hit a nine-month high of 2.052 percent in Asia on Monday.

A weekly gauge of sentiment in the Japanese government bond market deteriorated sharply, remaining in negative territory for a fifth straight week as rising global appetite for risk sapped demand for bonds, the latest Reuters poll showed on Monday.

(Additional reporting by Ramya Venugopal in Singapore; Editing by Eric Meijer)

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