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Stocks Rally Worldwide, Treasuries Slump as Manufacturing Grows

Stocks rose the most in two months, recouping losses from the Jan. 28 plunge driven by protests in Egypt, and Treasuries slumped as Chinese and U.S. manufacturing expanded and United Parcel Service Inc. beat earnings estimates. Copper climbed to a record as the dollar weakened.

The MSCI All-Country World Index of shares in 45 nations advanced 1.7 percent to 341.33 at 4:16 p.m. in New York. The Dow Jones Industrial Average closed above 12,000 for the first time since June 2008. Yields on 10-year U.S. Treasuries increased seven basis points to 3.44 percent. Copper rose 2 percent in New York. The Dollar Index slipped as much as 1 percent to a 12-week low of 76.943. Greek and Egyptian bonds surged.