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    Monday, January 5, 2009

    USA TODAY - Will brain waves help pilot future space ships?

    This story has been sent from the mobile device of Bombastic4000@yahoo.com. For real-time mobile news, go to m.usatoday.com.




    NASA's plans to ship people to the moon and some day Mars are very much up in the air these days, with debate over Barack Obama's plans for the space agency a hot water cooler topic in the aerospace industry. Budget battles aside, one new study asks, how should these future astronauts steer their way around our solar system?

    Brain waves, suggests the current Acta Astronauticajournal report. Fans of Neuromancer may recall the story's hero using brain implants to navigate around cyberspace, but the researchers led by Carlo Menon of the European Space Agency, see astronaut brain-machine interfaces as a the way to get around outer space.

    "Brains are characterized by every property that engineers and computer scientists detest and avoid. They are incredibly complex, and their processes at every level are chaotic," say the study authors. "Yet brains, and human brains in particular, are undeniably among the most successful "devices" that evolution has produced."

    For that reason, Menon and colleagues survey the world of brain-machine interfaces, ranging from genuine implants to magnetic resonance imagers, and conclude that relying on electroencephalographic (EEG) signals, a decades-old technology in which electrodes placed on the scalp detect electrical activity inside the brain, offers the best opportunity for space explorers. Portable EEGs are a coming thing, even seen in video games and used to move robots, although most research in the area is aimed at helping paralyzed patients regain movement.

    Because such brain controls cut out the technological middle man buttons, dials, steering wheels and whatnot they could potentially allow for far more refined control of devices in by astronauts, find the study authors. "The possibility of controlling external devices using brain-machine-interface technology could have a tremendous influence on strategic plans for future space missions," they suggest, listing tasks such as:

    Reducing the need for dangerous extra-vehicular activities (EVA) or "spacewalks" by letting controllers operate robots remotely.

    Allowing more than one astronaut to perform crowded tasks in confined spaces.

    Improving and speeding interactions with computer systems during dangerous operations. (Last week's report on the 2003 Columbia space shuttle tragedy, for example, noted the difficulties experienced by crewmembers in pushing buttons.)

    "Robotic aids could also be useful to astronauts weakened after many months in micro-gravity," adds the study. The space environment is a hazardous one, and future space explorers may find interstellar space between stars is even more dangerous due to cosmic rays, completely removing the possibility of EVA repairs. Refining astronaut controls to perform remote operation makes sense, they argue.

    Science fiction author Frank Herbert's 1966 novel, Destination Void, suggested a different brain-machine interface, implanting a human brain in a space ship to let it control the vehicle. That didn't work out too well in the novel, which richly deserves movie treatment, but Menon and colleagues have higher hopes for real-world interfaces.

    "In our opinion, the introduction of novel interfaces capable of reading and interpreting brain activities to control external artificial systems is expected to happen in the relatively near future," they conclude, before adding a scholarly note of caution. "So far, this technology has not, however, reached the readiness level necessary for any realistic implementation. Deep investigations and further developments are therefore expected."

    Website address: http://www.usatoday.com/tech/science/columnist/vergano/2009-01-03-brain-waves_N.htm

    Sunday, January 4, 2009

    NYTimes.com: Bright New Phone Displays That Don't Guzzle Power

    The New York Times E-mail This
    This page was sent to you by:  bombastic4000@gmail.com

    BUSINESS   | January 04, 2009
    Novelties:  Bright New Phone Displays That Don't Guzzle Power
    By ANNE EISENBERG
    Several companies are developing power-saving technologies for bright color displays on phones and other handhelds.

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    3. A New Cigarette Hazard: ‘Third-Hand Smoke’
    4. The Irish Economy’s Rise Was Steep, and the Fall Was Fast
    5. Blood Sugar Control Linked to Memory Decline, Study Says

    »  Go to Complete List


    The Wrestler Nominated for 3 Golden Globe Awards, including Best Actor-Mickey Rourke. Directed by Darren Aronofsky. Now playing in select theaters.
    Click here to view trailer


     

    Reuters - Richardson withdraws as Obama's commerce pick

    This article was sent to you from bombastic4000@yahoo.com, who uses Reuters Mobile Site to get news and information on the go. To access Reuters on your mobile phone, go to:
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    Richardson withdraws as Obama's commerce pick

    Sunday, Jan 04, 2009 7:10PM UTC

    CHICAGO (Reuters) - New Mexico Gov. Bill Richardson has withdrawn as President-elect Barack Obama's nominee for commerce secretary, an Obama aide said Sunday.

    The aide gave no further details, saying only that a statement was due to be released shortly.

    NBC news quoted a statement by Richardson as saying he withdrew due to a pending investigation into a company that has done business with his state.

    Richardson said on the NBC news website that he had done nothing wrong but he said the ongoing investigation would have caused a long delay in the confirmation process.

    (Reporting by Deborah Charles, Editing by Sandra Maler)

    Friday, January 2, 2009

    NYTimes.com: City Will Slash That Parking Fine, if You Ask

    The New York Times E-mail This
    This page was sent to you by:  bombastic4000@gmail.com

    NYREGION   | January 02, 2009
    City Will Slash That Parking Fine, if You Ask
    By JO CRAVEN McGINTY and RALPH BLUMENTHAL
    New York City has been offering reduced parking fines since 2005, but the discounts have gone unnoticed.

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    5. New Year, New You? Nice Try

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    Thursday, January 1, 2009

    FW: Reuters - Microsoft blames leap year for Zune glitch

    ----- Original Message -----
    Subject: Reuters - Microsoft blames leap year for Zune glitch
    Date: Fri, 2 Jan 2009 0:05:50
    From: bombastic4000.theblackrider@blogger.com <bombastic4000.theblackrider@blogger.com>
    To: <bombastic4000@yahoo.com>

    This article was sent to you from bombastic4000.theblackrider@blogger.com, who uses Reuters Mobile Site to get news and information on the go. To access Reuters on your mobile phone, go to:
    http://mobile.reuters.com

    Microsoft blames leap year for Zune glitch

    Thursday, Jan 01, 2009 4:51PM UTC

    NEW YORK (Reuters) - A malfunction of some Microsoft Corp Zune music players was caused by an error in the way the device accounts for leap years, Microsoft said.

    In a statement on the Zune website posted late on Wednesday, the company blamed "a bug in the internal clock driver related to the way the device handles a leap year," adding: "The issue should be resolved over the next 24 hours as the time change moves to January 1, 2009."

    The year 2008 had 366 days instead of the usual 365.

    Early on Wednesday, thousands of users found they could not use the 30-gigabyte Zune model, made in 2006. Microsoft called the issue "widespread," but said users could reconnect their players after 7 a.m. EST on Thursday.

    (Reporting by Nick Zieminski; Editing by James Dalgleish)

    FW: Reuters - Beatles to zombies, videogamers set for varied '09

    ----- Original Message -----
    Subject: Reuters - Beatles to zombies, videogamers set for varied '09
    Date: Fri, 2 Jan 2009 0:13:01
    From: bombastic4000.theblackrider@blogger.com <bombastic4000.theblackrider@blogger.com>
    To: <bombastic4000@yahoo.com>

    This article was sent to you from bombastic4000.theblackrider@blogger.com, who uses Reuters Mobile Site to get news and information on the go. To access Reuters on your mobile phone, go to:
    http://mobile.reuters.com

    Beatles to zombies, videogamers set for varied '09

    Thursday, Jan 01, 2009 9:7PM UTC

    By John Gaudiosi

    RALEIGH, North Carolina (Reuters) - For videogame publishers the start of 2009 marks a new phase in gaming with the release of new titles no longer confined to the top holiday sale months but spread throughout the year.

    Traditionally about half of annual videogame sales were rung up in November and December but last year Take Two Interactive broke this pattern when it released "Grand Theft Auto IV" in April and the game sold well throughout the year.

    In 2009, the first Nintendo DS installment of the best-selling crime story game franchise, "Grand Theft Auto Chinatown Wars," gets a March launch -- but some of the year's most-anticipated games will be available even before then.

    Japanese videogame maker Capcom Co Ltd introduces fighters new and old in the classic brawler sequel "Street Fighter IV" in February when Guerilla Games' PlayStation 3-exclusive "Killzone 2" sci-fi shooter hit store shelves. "This time around we're taking the war to the enemy," said Hermen Hulst, managing director of Guerilla Games. "We want players to experience a large-scale invasion and journey through a hostile world filled with big set pieces and dramatic events."

    Zombies are set to invade PS3 and Xbox 360 consoles in March as Capcom unleashes "Resident Evil 5." Set in Africa, this latest shooter introduces two-player cooperative gameplay to the mix and ups the ante with an assortment of undead enemies.

    The typically slow summer months will see some big movie tie-ins like Warner Bros. Interactive Entertainment's (WBIE) "Terminator: Salvation" and Electronic Arts' "Harry Potter and the Half-Blood Prince."

    SEQUELS AND NEW TITLES TO COMPETE

    After taking the summer off in 2008, the Dark Knight returns in an original game from WBIE, "Batman: Arkham Asylum," in which The Joker and an assortment of crazed super villains lock Batman inside their prison.

    Nintendo will offer Wii gamers virtual summer activities in "Wii Sports Resort." This game will ship with an advanced motion-sensor controller add-on that enables more precise aim in mini-games like playing dog Frisbee or riding jet skis.

    "To me, the big story is what happens on the Wii because it's the dominant platform, and it will be interesting to see how the publishers approach the Wii audience," said Michael Pachter, videogame analyst, Wedbush Morgan Securities.

    "There must be dozens of Wii games planned for holiday 2009 that we don't know about yet, and I think that many games will be designed to use the Wii Fit balance board that we haven't conceived of yet."

    Another big story for 2009 is the continuation of established franchises, especially when looking at the line-up for fall which includes sequels like Sony Computer Entertainment's "God of War II I," Take Two Interactive's "BioShock 2," Microsoft's "Halo 3: ODST," and Nintendo's rumored new "Legend of Zelda."

    While franchises such as "Fallout 3," "Gears of War 2," and "Call of Duty: World at War" did well in 2008, original titles like "Dead Space," "Mirror's Edge," and "Spore" didn't sell so well, said Dean Takahashi, VentureBeat.com's videogame editor.

    "It looks like consumers are getting more conservative about the way they're spending their precious dollars." he said.

    But there are original games slated for 2009, including Electronic Arts' horror action title, "Dante's Inferno," which is based on the classic poem, "The Divine Comedy," by Dante Alighieri.

    The Beatles are getting into the game business with MTV Games and "Rock Band" developer Harmonix in a collaboration that will create an as-yet-untitled interactive music experience.

    PlayStation 3 gamers will be able to star in a virtual film noir thriller when Sony and developer Quantic Dream release "Heavy Rain" in late 2009.

    (Editing by Belinda Goldsmith)

    FW: Reuters - Beatles to zombies, videogamers set for varied '09

    ----- Original Message -----
    Subject: Reuters - Beatles to zombies, videogamers set for varied '09
    Date: Fri, 2 Jan 2009 0:13:01
    From: bombastic4000.theblackrider@blogger.com <bombastic4000.theblackrider@blogger.com>
    To: <bombastic4000@yahoo.com>

    This article was sent to you from bombastic4000.theblackrider@blogger.com, who uses Reuters Mobile Site to get news and information on the go. To access Reuters on your mobile phone, go to:
    http://mobile.reuters.com

    Beatles to zombies, videogamers set for varied '09

    Thursday, Jan 01, 2009 9:7PM UTC

    By John Gaudiosi

    RALEIGH, North Carolina (Reuters) - For videogame publishers the start of 2009 marks a new phase in gaming with the release of new titles no longer confined to the top holiday sale months but spread throughout the year.

    Traditionally about half of annual videogame sales were rung up in November and December but last year Take Two Interactive broke this pattern when it released "Grand Theft Auto IV" in April and the game sold well throughout the year.

    In 2009, the first Nintendo DS installment of the best-selling crime story game franchise, "Grand Theft Auto Chinatown Wars," gets a March launch -- but some of the year's most-anticipated games will be available even before then.

    Japanese videogame maker Capcom Co Ltd introduces fighters new and old in the classic brawler sequel "Street Fighter IV" in February when Guerilla Games' PlayStation 3-exclusive "Killzone 2" sci-fi shooter hit store shelves. "This time around we're taking the war to the enemy," said Hermen Hulst, managing director of Guerilla Games. "We want players to experience a large-scale invasion and journey through a hostile world filled with big set pieces and dramatic events."

    Zombies are set to invade PS3 and Xbox 360 consoles in March as Capcom unleashes "Resident Evil 5." Set in Africa, this latest shooter introduces two-player cooperative gameplay to the mix and ups the ante with an assortment of undead enemies.

    The typically slow summer months will see some big movie tie-ins like Warner Bros. Interactive Entertainment's (WBIE) "Terminator: Salvation" and Electronic Arts' "Harry Potter and the Half-Blood Prince."

    SEQUELS AND NEW TITLES TO COMPETE

    After taking the summer off in 2008, the Dark Knight returns in an original game from WBIE, "Batman: Arkham Asylum," in which The Joker and an assortment of crazed super villains lock Batman inside their prison.

    Nintendo will offer Wii gamers virtual summer activities in "Wii Sports Resort." This game will ship with an advanced motion-sensor controller add-on that enables more precise aim in mini-games like playing dog Frisbee or riding jet skis.

    "To me, the big story is what happens on the Wii because it's the dominant platform, and it will be interesting to see how the publishers approach the Wii audience," said Michael Pachter, videogame analyst, Wedbush Morgan Securities.

    "There must be dozens of Wii games planned for holiday 2009 that we don't know about yet, and I think that many games will be designed to use the Wii Fit balance board that we haven't conceived of yet."

    Another big story for 2009 is the continuation of established franchises, especially when looking at the line-up for fall which includes sequels like Sony Computer Entertainment's "God of War II I," Take Two Interactive's "BioShock 2," Microsoft's "Halo 3: ODST," and Nintendo's rumored new "Legend of Zelda."

    While franchises such as "Fallout 3," "Gears of War 2," and "Call of Duty: World at War" did well in 2008, original titles like "Dead Space," "Mirror's Edge," and "Spore" didn't sell so well, said Dean Takahashi, VentureBeat.com's videogame editor.

    "It looks like consumers are getting more conservative about the way they're spending their precious dollars." he said.

    But there are original games slated for 2009, including Electronic Arts' horror action title, "Dante's Inferno," which is based on the classic poem, "The Divine Comedy," by Dante Alighieri.

    The Beatles are getting into the game business with MTV Games and "Rock Band" developer Harmonix in a collaboration that will create an as-yet-untitled interactive music experience.

    PlayStation 3 gamers will be able to star in a virtual film noir thriller when Sony and developer Quantic Dream release "Heavy Rain" in late 2009.

    (Editing by Belinda Goldsmith)

    FW: Reuters - Apple shares turn negative on Jobs "rumor"

    ----- Original Message -----
    Subject: Reuters - Apple shares turn negative on Jobs "rumor"
    Date: Fri, 2 Jan 2009 0:17:53
    From: bombastic4000.theblackrider@blogger.com <bombastic4000.theblackrider@blogger.com>
    To: <bombastic4000@yahoo.com>

    This article was sent to you from bombastic4000.theblackrider@blogger.com, who uses Reuters Mobile Site to get news and information on the go. To access Reuters on your mobile phone, go to:
    http://mobile.reuters.com

    Apple shares turn negative on Jobs "rumor"

    Tuesday, Dec 30, 2008 7:21PM UTC

    SAN FRANCISCO (Reuters) - Shares of Apple Inc fell as much as 2 percent on Tuesday after technology website Gizmodo reported a "rumor" that Chief Executive Steve Jobs's health was declining.

    A spokesman for Apple declined to comment on the rumor.

    When asked about Jobs's health, the spokesman said "if ever Steve or the board of directors decided that he was no longer capable of doing his job as CEO of Apple, I'm sure they will let you know."

    Gizmodo quoted a "solid source," which it did not identify, as saying that Jobs's "rapidly declining" health was the real reason behind his decision to cancel a keynote speech at next week's MacWorld conference. It titled the report "rumor."

    Apple shares had been trading up 1.5 percent at $87.92 before moving sharply lower. The stock then recovered to trade down about half a percent at $86.15 by mid-afternoon.

    "The main reason why Apple shares have sold off midday is that a website reported that Steve Jobs health is getting worse, citing an unidentified source," said William Lefkowitz, an options strategist at brokerage firm vFinance Investments.

    "However, this is not the first time Steve Jobs health has come into question. In the past, this has created large fluctuations in Apple stock," he said.

    (Reporting by Doris Frankel in Chicago and Gabriel Madway in San Francisco; Editing by Bernard Orr)

    (To read more about the media business, visit the Reuters MediaFile blog at http://blogs.reuters.com/mediafile/)

    Reuters - Sequels keep video games buzzing in 2008

    This article was sent to you from bombastic4000@yahoo.com, who uses Reuters Mobile Site to get news and information on the go. To access Reuters on your mobile phone, go to:
    http://mobile.reuters.com

    Sequels keep video games buzzing in 2008

    Friday, Dec 26, 2008 8:30AM UTC

    By John Gaudiosi

    RALEIGH, North Carolina (Reuters) - Despite the sluggish global economy, video game sales remained recession-proof in 2008 as game sequels were snapped up by fans and music games struck the right note.

    Sequels like MTV Games' "Rock Band 2," Bethesda Softworks' "Fallout 3" and Konami Digital Entertainment's "Metal Gear Solid 4: Guns of the Patriots" won over game critics and consumers.

    "In uncertain economic times, gamers do what every other consumer does -- focus on quality brands," said Sid Shuman, senior editor at GamePro Magazine.

    "If game purchases are limited, gamers will flock to core titles that are guaranteed to satisfy like "Call of Duty: World at War," "Gears of War 2" and "Grand Theft Auto IV." Think of them as gaming comfort foods."

    2K Games' "Grand Theft Auto IV," which was released back in April, has sold over 11 million copies worldwide. The first next generation story in the award-winning franchise presented gamers with an open world sandbox to explore.

    Xbox 360 gamers will be introduced to a new storyline come February 17 when "The Lost and the Damned" expansion pack is released digitally via Xbox Live with the new episode introducing Johnny Lebitz and his biker gang, The Lost.

    With the average age of a gamer today 35, mature-rated games like developer Epic Games' "Gears of War 2" have risen to the top of the global charts. This sci-fi shooter that sent Delta Squad into the heart of Planet Cera to take out the monstrous Locust Horde sold over 3 million units in its first month.

    In the battle between Microsoft and Sony in the sci-fi sequel department, Microsoft's Xbox 360-exclusive "Gears of War 2" nudged Sony's PlayStation 3-exclusive "Resistance 2" by an aggregate review score of 94 percent to 87 percent, according to GameCritics.com.

    Activision returned to World War II after taking a year off in 2007 to introduce "Call of Duty: Modern Warfare" and gamers were eager to experience the Pacific Theater of War in "Call of Duty: World at War."

    The franchise has sold over 35 million units around the globe and remains a top draw on Xbox Live.

    Although Electronic Arts' "Madden NFL 09," the 20th installment in that franchise, and "NCAA Football 09" once again attracted enough loyal gridiron fans in the U.S. to place high in the charts, the music game genre surpassed sports.

    The one-two punch of Activision's "Guitar Hero" and MTV Games' "Rock Band" have achieved success with both hardcore and casual gamers. "Guitar Hero: World Tour," "Guitar Hero: Aerosmith" and "Guitar Hero III: Legends of Rock" helped propel the franchise to global sales of over 23 million, according to The NPD Group, Charttrack and GfK.

    "In the aggregate, I expect "Guitar Hero" will sell through around $800 to 900 million at retail globally this year, while "Rock Band" probably will sell through half that figure," said Michael Pachter, videogame analyst, Wedbush Morgan Securities.

    "However, "Rock Band" appears to have a huge lead in the sales of downloadable content."

    Nintendo's Wii ushered in a whole new gaming audience, and as a result, Nintendo sequels like "Mario Kart Wii" and "Super Smash Bros. Brawl" each sold over 4 million units through the end of November in the U.S., according to The NPD Group.

    Nintendo creator Shigeru Miyamoto introduced a balance board that allows gamers to exercise and do yoga with "Wii Fit," which has topped U.S. sales of 3.5 million

    And Nintendo wasn't the only one pushing creativity. Sony Computer Entertainment and developer Media Molecule delivered the first user-generated game experience with "LittleBigPlanet" on PS3. Gamers have already created over 100,000 custom levels, which have generated over 20 million plays.

    "I think the very nature of the games industry has changed," said Anita Frazier, videogame analyst, The NPD Group. "Yes, there is still a dedicated group of core gamers and the really great more traditional games will still sell a lot of units, but there is so much more possibility now imaginable with content for videogame systems."

    (Editing by Belinda Goldsmith)

    Reuters - World stocks end up after historic annual losses

    This article was sent to you from bombastic4000@yahoo.com, who uses Reuters Mobile Site to get news and information on the go. To access Reuters on your mobile phone, go to:
    http://mobile.reuters.com

    World stocks end up after historic annual losses

    Wednesday, Dec 31, 2008 10:30PM UTC

    By Clive McKeef

    NEW YORK (Reuters) - World stock markets ended on an uptick for the year on Wednesday, after some bourses registered their worst annual losses in history.

    Global stocks as measured by the MSCI world index <.MIWD00000PUS> ended up 0.76 percent for the day and posted their first monthly gain in seven months, but lost 43.36 percent for the year.

    About $14 trillion in market capitalization was erased from world stock markets in 2008 in the wake of the worst credit crisis since the Great Depression of the 1930s.

    "It has been a shocking year, hardly anything was spared in the carnage," said Michael Heffernan, strategist at Austock Group in Australia.

    U.S. stocks edged up on Wednesday and saw their first monthly gain in five months, but the year has been the worst for Wall Street stocks since the Great Depression.

    Continuing weekly U.S. jobless claims remained at their highest level since 1982 in Labor Department data on Wednesday, but investors took some heart from confirmation by the Federal Reserve on Tuesday that it would try to lower home mortgage rates further by buying mortgage bonds in 2009.

    Interest rates on U.S. 30-year fixed-rate mortgages dropped for a ninth consecutive week, reaching their lowest level in 37 years, with the 30-year fixed rate at 5.10 percent, according to home funding company Freddie Mac on Wednesday.

    The worst global credit crisis since the 1930s began with the bursting of the U.S. house price bubble in 2007, which resulted in more than $500 billion of losses on mortgage-related securities for U.S. banks alone.

    The U.S. Treasury and the Fed have been trying to stabilize the housing market by recapitalizing banks and lowering mortgage rates, while President-elect Barack Obama has proposed a huge fiscal stimulus package of more than $500 billion in 2009.

    "There is general optimism that the new administration will come forth with some policies that are going to help," said Peter Jankovskis, director of research at OakBrook Investments LLC in Lisle, Illinois.

    The Dow Jones industrial average <.DJI> ended up 108.00 points or 1.25 percent, at 8,776.39. The Standard & Poor's 500 Index <.SPX> finished up 12.61 points, or 1.42 percent, at 903.25. The Nasdaq Composite Index <.IXIC> closed up 26.33 points, or 1.70 percent, at 1,577.03.

    The benchmark S&P 500 index has recovered about 18 percent since hitting an 11-year low on November 20, but for the year saw its biggest annual fall since 1937: 38.49 percent.

    European shares closed higher in holiday-thinned trade on Wednesday, with the FTSEurofirst 300 <.FTEU3> index of top European shares up 0.9 percent at 831.97 points -- while slumping 45 percent in 2008.

    The DJ Stoxx basic resources index <.SXPP>, home of Europe's biggest mining companies, was the worst hit in 2008, sinking 64.9 percent, closely followed by the DJ Stoxx banking index <.SX7P>, down 64.8 percent.

    In Japan the Nikkei stock average fell 42 percent in 2008, the worst loss in its 58-year history, though the benchmark index gained 1.3 percent on its final half-day of trade.

    "Everyone's pinning their hopes on economic stimulus policies by the United States and possibly China, which is keeping the market supported for now," said Tomomi Yamashita, a fund manager at Shinkin Asset Management.

    BOND YIELDS AT LOWEST IN DECADES

    U.S. Treasuries prices slid on Wednesday as the stock market continued to edge higher, removing some of the need for a safe haven, despite the poor economic outlook.

    Benchmark 10-year notes fell 1-19/32, with their yield rising to 2.22 percent from 2.06 percent on Tuesday.

    However, three-month U.S. Treasury bills continue to yield close to zero percent and longer-dated U.S. Treasury yields remain at 50-year lows, after the global credit crisis drove investors out of stocks and sparked a massive flight to the safety of government bonds worldwide.

    European bond markets were already closed for the year on Wednesday after two-year and 10-year euro zone government bond yields fell to their lowest levels in nearly two decades on Tuesday, the last trading day of the year, capping bumper annual returns due to the grim economic outlook.

    U.S. DOLLAR BENEFITS

    The U.S. dollar rose on Wednesday and was headed for its first yearly gain against the euro since 2005 as the financial crisis led investors to take refuge in the relative safety of the greenback.

    The dollar was on track to end 2008 higher against most major currencies.

    The Japanese yen was the other top performer this year, boosted by investors unwinding trades financed by borrowing the Japanese currency at low interest rates.

    Despite its rally against higher-yielding currencies such as sterling and the Australian and New Zealand dollars, the U.S. dollar has tumbled more than 18 percent against the yen this year, while the euro was 22 percent lower against the yen.

    The U.S. dollar closed steady around 90.63 yen on Wednesday with the euro down around $1.3967.

    "In forex, the year could be summed up in two words: risk aversion," said Dustin Reid, director for FX strategy at RBS Global Banking & Markets in Chicago. "And the yen and the dollar were at the receiving end of that global flight to safety."

    The U.S. dollar index <.DXY> was up 0.7 percent at the close in New York, after a 6.0 percent drop for the month, but ended up about 5.8 percent for the year.

    COMMODITIES STEADY AFTER CRASH

    U.S. crude oil futures rose sharply on Wednesday with the expiry of January heating oil and gasoline futures contracts, and with no end to the attacks in Gaza raising the possibility of geopolitical risk over the holiday.

    NYMEX February crude oil futures ended up $5.57 at $44.60 a barrel, but crude oil prices have crashed 77 percent in the past five months, going from a record high of $147.27 in July to a low of $32.40 on December 19.

    Overall, commodities from oil to copper closed out their worst year ever on a flat note on Wednesday.

    "In the new year, President-elect Obama will be taking on his new position, and many people will be expecting a number of changes to stimulate the U.S. economy," said Adrian Koh, analyst at Phillip Futures in Singapore.

    (Additional reporting by Jeremy Gaunt and Brian Gorman; Editing by Jonathan Oatis)

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