U.S. equities closed within a hair’s breadth of a record high and Treasuries rose as investors continued to debate the impact of resurgent inflation on monetary policy.
The S&P 500 ended little changed less than 6 points below its May 7 record close after fluctuating between gains and losses throughout the session. The 10-year Treasury yield fell to the lowest in a month, with focus turning toward Thursday’s consumer-price data that may offer clues on how far the Federal Reserve can postpone a tapering of stimulus.
