Treasury Yields Rise as S&P 500 Trades Little Changed

Ten-year Treasury yields reached the highest level since March as retail sales unexpectedly rose, while the Standard & Poor’s 500 Index was little changed at a record level. The dollar rallied and oil fell for a third day.

Ten-year rates rose two basis points to 1.92 percent at 4 p.m. in New York. The S&P 500 gained less than 0.01 percent to 1,633.7 to reach a record for the seventh time in eight days. The dollar strengthened against all 16 major peers except the Brazilian real. The yen fell 0.2 percent to 101.86 a dollar after weakening beyond 102 for the first time since 2008. Italian 10-year bonds fell, with yields climbing nine basis points to 3.98 percent, as the government sold 8 billion euros ($10.4 billion) of debt. Oil retreated as much as 1.6 percent while crops rallied.