Dollar Falls While Treasuries, Gold Gain; Stocks Drift
Dollar Falls While Treasuries, Gold Gain; Stocks Drift (Bloomberg)
The U.S. dollar weakened as bonds gained amid disruptions from the U.S. budget debate that prompted speculation the Federal Reserve will maintain its easy-money policies. U.S. stocks fluctuated, with International Business Machines (IBM) and Goldman Sachs Group Inc. falling after reporting declining sales. The dollar slid one percent to $1.3670 per euro, its biggest drop in a month, while Treasury 10-year note yields fell seven basis points to 2.60 percent as the yield on similar-maturity German bunds dropped seven basis points to 1.86 percent. Rates on Treasury bills due on Oct. 24 extended their two-day decline to 44 basis points to trade below 0.03 percent.