The Standard & Poor’s 500 Index returned to a record as a Federal Reserve official said bond purchases should continue and Goldman Sachs Group Inc. forecast the stock rally will last at least through 2015. Treasuries rose and the yen pared earlier losses while grains and gold fell.
The cost of insuring Malaysia’s sovereign debt climbed to the highest level in almost two months on concern upcoming elections will produce a close outcome that could trigger unrest. The ringgit and bonds were steady.
India’s rupee posted the biggest gain in Asia this week as improving data in the U.S. spurred a rally in global stocks and inflows to emerging markets. South Korea’s won fell as tensions with North Korea intensified.
Malaysia’s central bank told local lenders they must use a ringgit fixing set domestically to settle foreign-exchange contracts amid an ongoing probe into rates set by the Association of Banks in Singapore.