United States Treasuries fell after a surge that put global bonds on the verge of erasing their 2023 losses, with traders weighing mixed readings on U.S. retail sales andTwo-year yields, which are more sensitive to imminent policy moves, climbed five basis points to about 4.9 per cent. Stocks edged higher, following a rally that was turbocharged by short covering and bets the Fed’s tightening cycle is over. Target Corp.
soared on earnings that beat forecasts as the big-box retailer recovers from its recent profit-busting pileup of merchandise. U.S. retail sales slowed in October and prior months were revised higher, suggesting some resiliency going into the holiday season. Prices paid to U.S. producers unexpectedly declined by the most since April 2020, adding to evidence that inflationary pressures are abating across the economy. On Wall Street, the S&P 500 rose 0.25 per cent to 4,508.56. The Dow Jones Industrial Average was up 0.25 per cent to 34,914.60 while the Nasdaq Composite rose