Treasuries Drop as U.S. Stocks Gain; Wheat Reaches One-Year High

Treasuries fell for the first time in five days, while U.S. stocks advanced as data showed service industries expanded at the fastest pace in eight months. Wheat jumped to the highest level in a year and gold rose as violence spread in Ukraine.

Ten-year Treasury yields added 2 basis points to 2.61 percent as of 4 p.m. in New York. The Standard & Poor’s 500 Index increased 0.2 percent to 1,884.66 as Apple Inc. climbed above $600 a share for the first time since 2012. The rate on Portugal’s five-year note approached a record low. The yen strengthened against most of its 16 major peers. Gold increased