S&P 500 Returns to Record While U.S. Treasuries Advance

The Standard & Poor’s 500 Index returned to a record as a Federal Reserve official said bond purchases should continue and Goldman Sachs Group Inc. forecast the stock rally will last at least through 2015. Treasuries rose and the yen pared earlier losses while grains and gold fell.

The S&P 500 climbed 0.2 percent to 1,669.16 at 4 p.m. in New York, while the Stoxx Europe 600 Index erased a 0.7 percent drop to close little changed. The yield on the 10-year Treasury note fell four basis points to 1.93 percent. Japan’s currency was 0.2 percent weaker against the dollar, paring a 0.6 percent drop. The pound slid 0.7 percent to $1.5151 after U.K. inflation slowed more than economists forecast in April. Corn, wheat and gold paced losses in commodities.