Treasuries Rise, Oil Gains as Stocks End Little Changed

Treasuries gained for a fourth straight day amid concern about the U.S. debt ceiling and a reduction in the World Bank’s growth forecasts. Oil rallied following an unexpected drop in inventories, while the Standard & Poor’s 500 Index closed little changed at a five-year high.

Ten-year Treasury yields lost two basis points to 1.82 percent, the lowest closing level of the year. Oil jumped 1 percent to $94.24 a barrel, its highest price since September. The S&P 500 rose less than 0.1 percent to 1,472.63, erasing an early drop as Apple Inc. rebounded 4.2 percent from an 11-month low. The Nikkei 225 Stock Average sank 2.6 percent while the yen rallied for a second day. A gauge of the Group of Seven nations’ currency volatility reached the highest since September as policy makers stepped up warnings on swings in exchange rates.