The dollar strengthened to a 14-month high and commodities declined to the lowest level in five years after data added to evidence China’s economy is slowing. Russia’s ruble weakened to a record after the European Union and U.S. imposed new economic sanctions.
Treasuries declined for a second day as reports showed euro-area manufacturing and services grew while a gauge of Chinese factory activity rose to an 18-month high in July, damping demand for the safest assets.
Sprint Corp. is nearing an agreement on the price, capital structure and termination fee for an acquisition of T-Mobile U.S. Inc. that could value the wireless carrier at almost $40 a share, people with knowledge of the matter said.
American mutual funds are scouring Europe for bargains, snapping up Dutch oil drillers, French drugmakers and Swiss food producers on speculation the region’s rally is just beginning as the U.S. bull market ages.