Ten-year Treasury yields reached the highest level since March as retail sales unexpectedly rose, while the Standard & Poor’s 500 Index was little changed at a record level. The dollar rallied and oil fell for a third day.
Treasury 10-year yields reached the highest level in almost seven weeks after a report showed U.S. retail sales unexpectedly increased in April, renewing optimism central-bank efforts to spur economic growth are working.
Berkshire Hathaway Inc.’s $1 billion note sale shows that while Chief Executive Officer Warren Buffett may pity investors who’ve stuck with bonds as yields fall to record lows, he’ll sell them as much debt as they want.
Treasury 10-year notes rallied to finish little changed as weaker-than-forecast economic data dashed speculation the Federal Reserve might end stimulus measures anytime soon, driving investors into government debt.
Representative Paul Ryan, chairman of the House Budget Committee, declared this month that the U.S. national debt “is hurting our economy today.” It’s an idea embraced by almost every Republican and even some Democrats.
Treasuries rose, pushing 10-year note yields down the most in three weeks, as an unprecedented proposed levy on bank deposits in Cyprus threatened to reignite the euro region’s debt crisis, boosting demand for a refuge.