The Standard & Poor’s 500 Index rose, giving it the best three-day rally in two months, while Treasuries fell as Yahoo! Inc. jumped on earnings and U.S. industrial production increased. The pound strengthened and copper advanced.
Treasuries declined for the first time in five days before the minutes of the Federal Reserve’s last policy meeting are released as a $21 billion sale of 10- year notes produced an above-forecast yield.
Treasuries rose, pushing 10-year yields down from almost the highest levels since January, amid speculation that a report tomorrow forecast to show faster U.S. employment growth drove the market down too much.
The yen and the dollar climbed while commodity and emerging-market currencies weakened with U.S. Secretary of State John Kerry preparing to visit Kiev as Russia seized control of Ukraine’s Crimea region, intensifying one of the most serious standoffs since the Cold War ended.