Reliance Industries Ltd., operator of the world’s biggest oil refinery complex, reported its highest quarterly profit in more than two years as a decline in the value of the rupee boosted export earnings.
Treasuries fell, with benchmark 10- year yields rising for the first time in four weeks, as an accord aimed at ending the crisis in Ukraine and signs of a strengthening U.S. economy crimped refuge demand.
The Standard & Poor’s 500 Index capped its biggest weekly advance since July and Treasuries fell the most in a month as tensions eased over Ukraine and earnings from General Electric Co. and Morgan Stanley topped estimates.
Treasuries fell as reports showed initial jobless claims were lower than forecast last week and a manufacturing index expanded, adding to speculation the Federal Reserve will raise interest rates at some point next year.
The Treasury’s $18 billion sale of five-year inflation-indexed notes may draw a yield of negative 0.162 percent, according to the average forecast in a Bloomberg News survey of five of the Federal Reserve’s 22 primary dealers.
Sanctions over Ukraine may threaten Russia’s investments in assets denominated in euros and U.S. dollars, Economy Minister Alexei Ulyukayev said, urging the use of the nation’s wealth funds for domestic projects.
Detroit’s proposed 74 cent recovery rate on general-obligation debt, almost five times more than its last offer, has sent yields to the lowest in 10 months and signals a broader rally in local government securities.