Ten-Year Treasury Yield Touches 2% as S&P 500 Retreats

Treasury 10-year yields touched 2 percent for the first time since April after U.S. durable-goods orders climbed more than forecast. The Standard & Poor’s 500 Index retreated following an eight-day rally, its longest since 2004. The yen strengthened and the pound weakened.

Rates on 10-year notes were up two basis points at 1.97 percent at 4 p.m. in New York after climbing to as high as 2.004 percent. The Standard & Poor’s 500 Index fell from a five-year high, losing 0.2 percent to 1,500.18. The Shanghai Composite Index jumped to a seven-month high as Chinese industrial companies’ profits gained for a fourth month. Japan’s currency rose against 14 of its 16 major peers. The pound dropped to its lowest level against the euro since 2011.