Treasury Yields Reach Two-Year High; Euro, Oil Advance

Ten-year Treasury yields reached the highest level in more than two years on speculation the Federal Reserve will keep reducing stimulus as the economy recovers. The euro rallied and oil topped $100 a barrel for the first time since October, while U.S. stocks were little changed.

The Treasury 10-year yield rose 1 basis point to 2.99 percent as of 4 p.m. in New York, after reaching 3 percent for the first time in three months. The Stoxx Europe 600 Index climbed 1.1 percent for a sixth day of gains while the Standard & Poor’s 500 Index fell less than 0.1 percent. The euro climbed to the highest since 2011 against the dollar and touched a five-year high against the yen. Crude increased to $100.32 as U.S. supplies fell to the lowest since September. Turkish stocks slid for a third day as the lira slumped to a record.