U.S. Treasuries advanced for a second day and the dollar strengthened on speculation the so-called fiscal cliff and Federal Reserve bond purchases will boost demand for debt. European stocks pared gains, and Spanish bonds stayed lower after a debt sale. The yield on five-year Treasuries fell three basis points to 0.65 percent at 6:28 a.m. in New York. The dollar advanced against 11 of its 16 major peers. The Stoxx Europe 600 Index (SXXP) rose 0.2 percent after gaining as much as 0.6 percent. Standard & Poor’s 500 Index futures added less than 0.1 percent after yesterday decreasing 2.4 percent. The yield on Spain’s 10-year rose 11 basis points to 5.80 percent. Oil climbed 1 percent and the S&P GSCI gauge of 24 commodities advanced 0.5 percent. U.S. Treasuries advanced for a second day and the dollar strengthened on speculation the so-called fiscal cliff and Federal Reserve bond purchases will boost demand for debt. European stocks pared gains, and Spanish bonds stayed lower after a debt sale. The yield on five-year Treasuries fell three basis points to 0.65 percent at 6:28 a.m. in New York. The dollar advanced against 11 of its 16 major peers. The Stoxx Europe 600 Index (SXXP) rose 0.2 percent after gaining as much as 0.6 percent. Standard & Poor’s 500 Index futures added less than 0.1 percent after yesterday decreasing 2.4 percent. The yield on Spain’s 10-year rose 11 basis points to 5.80 percent. Oil climbed 1 percent and the S&P GSCI gauge of 24 commodities advanced 0.5 percent.

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