Stocks, Copper Rise, Treasuries Drop on Manufacturing Growth

Global stocks surged the most since May, Treasuries tumbled and copper rallied as manufacturing in the U.S. and China grew faster than economists estimated, bolstering optimism in the economy. The dollar, yen and Swiss franc weakened.

The MSCI World Index rallied 2.9 percent at 4 p.m. in New York, its biggest gain since May 27, and the Standard & Poor’s 500 Index jumped 3 percent to 1,080.29. Ten-year Treasury yields rose 11 basis points to 2.58 percent. Copper and aluminum advanced more than 2.4 percent to pace gains in metals. The Australian dollar strengthened against all 16 major counterparts after the nation’s economic growth topped forecasts.