U.S. stocks jumped, sending the Standard & Poor’s 500 Index within a point of a record, as equities rallied around the world on speculation Greece will reach a bailout agreement. Treasuries fell, while bonds from Italy to Greece gained with the euro.
The S&P 500 rose 0.8 percent at 12 p.m. in New York, to a one-month high. The Stoxx Europe 600 Index jumped 2.2 percent, the most since May 8. Yields on 10-year Treasury notes rose nine basis points to 2.35 percent. Greek 10-year yields sank 150 basis points while the nation’s equity index surged 9 percent.
European policy makers expressed confidence that a deal with Greece was within reach after Prime Minister Alexis Tsipras’s government submitted a last-minute set of proposals they said could end a five-month standoff over aid. A surge in corporate merger activity also boosted equities.
Source : Bloomberg