Treasuries, U.S. Stocks Retreat; New Zealand Kiwi Weakens

Treasuries fell as stronger growth in American service industries dimmed prospects for Federal Reserve bond buying, while U.S. benchmark stock indexes retreated from records. The New Zealand dollar slid as a milk-powder exporter said some shipments may be tainted.

Ten-year Treasury yields rose four basis points to 2.64 percent as of 4 p.m. in New York. The Standard & Poor’s 500 Index slipped 0.1 percent while the Stoxx Europe 600 Index closed 0.2 percent higher after climbing as much as 0.6 percent. The yen strengthened 0.7 percent to 98.30 per dollar while New Zealand’s dollar weakened against 15 of its 16 main peers. Wheat, sugar and gasoline lost more than 1.3 percent to lead the S&P GSCI Index of commodities lower.