Returns on inflation-linked bonds fell below those of government debt by the most in almost three years as the world economic slump makes it less likely that easy monetary policies will trigger spiraling consumer prices.
Rory McIlroy became the youngest major champion since Tiger Woods in 1997 with an eight-stroke win at the U.S. Open, where he set 12 records, including the lowest score in the golf tournament’s 111-year history.
The U.S. ended a corruption probe into oil-and-gas explorer Kosmos Energy LLC without filing charges after the company was reported by a partner for possible bribery related to the development of Ghana’s offshore Jubilee field, according to a May 12 U.S. Justice Department letter obtained by Bloomberg News.
Occidental Petroleum Corp. and Bank of America Corp. led $15.5 billion of corporate bond sales in the U.S. this week, pushing monthly issuance past the December 2009 total amid rising confidence in the economic recovery.
Treasuries rose for a second day, pushing yields on 2- and 10-year notes to three-week lows, as speculation that Greece will be unable to avoid a default and declines in stocks boosted demand for refuge assets.