Treasuries rise while U.S. stocks drop, yen gains on weaker yuan

Treasuries rose and the Standard & Poor’s 500 Index retreated after touching an intraday record Monday 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 2.70 percent by 4:30 p.m. in New York. The S&P 500 lost 0.1 percent to 1,845.12, after fluctuating near its record closing level for most of the day. Japan‘s currency climbed versus 15 of 16 major peers as the managed yuan slipped the most since November 2010 and the Shanghai Composite Index slid 2 percent. Ukraine‘s hryvnia tumbled to a record as lawmakers delayed a vote on selecting a government. Natural gas sank 6.4 percent.