Treasuries Rise While U.S. Stocks Drop; Yen Gains on Weaker Yuan
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Treasuries rose and the Standard & Poor’s 500 Index retreated after touching an intraday record yesterday on signs U.S. consumer confidence is flagging. The yen gained amid concern a weaker Chinese yuan will hurt growth while natural gas led commodities lower.
Yields on 10-year Treasuries dropped four basis points to