The U.S. Federal Trade Commission gained the power to pursue a more aggressive antitrust agenda after the agency added a fifth commissioner, giving Democrats a majority for the first time in more than a year.
Corn surged to a record and soybeans and wheat prices jumped on mounting signs the U.S. drought will erode production. Treasuries pared earlier losses after the U.S. sold $16 billion of 30-year bonds, while the Standard & Poor’s 500 Index advanced a fifth day and the euro weakened.
Treasury 10-year notes snapped three days of gains before a report tomorrow that forecasters said will show U.S. retail sales increased for a fourth month in July, adding to signs the economy is improving.
Treasuries rose for the first time in three days as investors sought safety amid declining stocks and commodities after Japan’s nuclear crisis worsened, boosting demand at a U.S. auction of $32 billion of three-year notes.