Government bonds should be excluded from the European Union’s planned financial-transaction tax because the levy would drive up sovereign borrowing costs, a panel of European debt-management officials said.
U.S. stocks fell, ending four days of records for the Standard & Poor’s 500 Index, amid disappointing economic data and after a Federal Reserve official said the central bank may slow the pace of stimulus as early as this summer.
U.S. stocks fell, pulling benchmark indexes down from records, and the Dollar Index reversed losses as Federal Reserve officials discussed scaling back stimulus efforts. Gold futures extended the longest slump since 2011.
Italian and Spanish bonds fell as investors bet that 10-year yields close to the lowest since at least 2010 may be untenable as a report showed the euro-area economy shrank more in the first quarter than analysts forecast.