Stocks, Bonds Rise as Minutes Show Taper Debate: Markets Wrap
- S&P 500 closes at another record high; dollar little changed
- Crude oil declines for second day after reaching six-year high
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U.S. stocks rose to record highs and bonds gained as minutes from the Federal Reserve’s latest meeting showed policy makers continued to see elevated uncertainty and debated the tapering of debt purchases used to fuel stimulate to the economy.
Ten-year U.S. note yields fell for a second day, dropping briefly below 1.3% for the first time since February, as expectations for an inflationary economic recovery continued to fade. The S&P 500 and Nasdaq Composite each closed at all-time highs, with the benchmark S&P doing so for the eighth time in nine trading sessions.