Treasuries Fall While U.S. Stocks End Little Changed, Oil Slides
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U.S. Treasuries sank amid growth in housing starts and speculation that lawmakers will reach an agreement on the budget, while stocks ended little changed as Hewlett-Packard Co. led technology shares lower. Oil sank.
Ten-year U.S. note yields rose five basis points to 1.67 percent at 4 p.m. in New York, a second straight increase. The Standard & Poor’s 500 Index closed up less than 0.1 percent at 1,387.82 after retreating as much as 0.7 percent. France’s 10-year bond yields climbed eight basis points to 2.15 percent after Moody’s Investors Service cut the nation’s credit rating. Oil plunged on optimism that fighting will subside between Israel and Palestinian groups.