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.
Detroit’s proposed 74 cent recovery rate on general-obligation debt, almost five times more than its last offer, has sent yields to the lowest in 10 months and signals a broader rally in local government securities.
Diageo Plc offered to pay 114 billion rupees ($1.9 billion) to gain control of United Spirits Ltd. in a second attempt to extend its reach in the world’s largest whiskey market. United surged to a record.