U.S. stocks erased losses as the Obama administration said it will relax rules on a mortgage- modification program and optimism grew that Greece will reach a debt-restructuring agreement with bondholders. The euro climbed for a fifth day. Treasuries and commodities rose.
The haircut of Greek government bonds and the second bailout agreement with the debt-wracked nation’s international creditors -- the European Commission, the European Central Bank and the International Monetary Fund -- represent the biggest milestones sin... ...