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Treasuries Rise With Dollar as S&P 500 Index Retreats

Treasuries rose, trimming the biggest monthly drop in more than a year, after an auction generated higher-than-average demand. The dollar strengthened against most major counterparts, and the Standard & Poor’s 500 Index fell from an almost four-year high.

Ten-year Treasury yields lost seven basis points to 2.18 percent at 4 p.m. in New York, paring the monthly gain to 21 basis points. The dollar added 0.3 percent to $1.3323 per euro as it strengthened versus 14 of 16 major counterparts. The Standard & Poor’s 500 Index slipped 0.3 percent to 1,412.52 after closing at the highest level since May 2008 yesterday. The Nikkei 225 Stock Average erased losses from last year’s earthquake. Natural gas slumped to a 10-year low on speculation government data this week will show a growing surplus.