U.S. Stocks Retreat, Bonds Rise as Dollar Slips: Markets Wrap
- Group of 20 ministers cut their pledge to resist protectionism
- Ten-year U.S. Treasury yields steady after Friday’s drop
U.S. Dollar Softens as G-20 Statement Shifts on Trade
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U.S. stocks capped a third straight loss and Treasuries advanced as Federal Reserve Bank of Chicago President Charles Evans addressed the timing for further tightening. The dollar remained lower and gold advanced.
The S&P 500 Index slipped as Evans suggested two or three hikes might be warranted this year if economic data remain robust. The Fed last week raised interest rates and signaled it anticipated another two increases by year’s end. The 10-year Treasury yield fell below 2.47 percent. Emerging-market stocks rallied a seventh day. Crude fell for the ninth time in 11 days. Gold touched the highest level in two weeks.