Commodity Index Drops as Treasuries Advance With S&P 500

Industrial metals led a gauge of commodities to a four-month low, while the dollar weakened and Treasuries rose, as investors assessed economic data for clues to future policy moves from central banks. U.S. shares rose a second day and European stocks closed at a five-year high.

The S&P GSCI Index of 24 commodities lost 0.3 percent to 610.66 by 4:10 p.m. in New York as copper slid 1.3 percent and natural gas sank 1.9 percent. The Bloomberg U.S. Dollar Index, a gauge of the currency against 10 major peers, fell 0.3 percent after climbing for six straight days in its longest rally since May. Ten-year Treasury yields decreased two basis points to 2.60 percent. The Standard & Poor’s 500 Index rose 0.4 percent, while the Stoxx Europe 600 Index climbed 0.3 percent.