U.S. stocks headed for the first two-day slide of the month, while Treasuries advanced as the rally in riskier assets that took equities to records eased. The pound weakened after a report showed U.K. retail sales fell in January.
The S&P 500 Index pared a weekly advance that saw it close at records, with commodity producers slipping as oil and metal prices slumped. The 10-year Treasury note yield slid to 2.42 percent. French bonds retreated and the euro weakened as political risks weighed on sentiment. The pound headed for the lowest level in a month. U.S. markets are closed Monday for a holiday.
Stocks are pausing a rally as investors go back and forth assessing the prospects for President Donald Trump’s economic plans and the timing of U.S. interest-rate increases. In Congressional testimony this week, Federal Reserve Chair Janet Yellen warned against waiting too long to tighten policy. Concerns about France’s future in the euro region in the event of a Marie Le Pen presidency are roiling the country’s assets.
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