Treasuries Rise as Commodities, Stocks Fall on Budget

Treasury 10-year notes advanced, while commodities and U.S. stocks retreated, after President Barack Obama held his ground about raising tax rates for the highest-income Americans. The dollar weakened. Yields on 10-year notes slipped two basis points to 1.60 percent at 4 p.m. in New York while the S&P GSCI gauge of commodities slid 0.9 percent as cocoa and silver led declines. The Standard & Poor’s 500 Index lost 0.2 percent to 1,407.05. The Dollar Index slipped 0.3 percent for a fifth straight decline, its longest slump in more than a year. The Stoxx Europe 600 Index (SXXP) of stocks closed less than 0.1 percent higher after rallying 0.4 percent earlier. 

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