Markets wrap · X @MoneyTurkey

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01:15 GMT · Markets wrap ›

Treasuries Slide as Hot CPI Lifts December Hike Odds

MoneyTurkey editors
Light motion chart of the US 10-year Treasury yield, percent, daily trading sessions from 9 October to 10 November 2026. Headline: Treasuries Slide as Hot CPI Lifts December Hike Odds. Lead: 4.93%, shortly after the 13:30 CPI release. Tiles: 2-year Treasury 4.69%, up 14 basis points; 30-year Treasury touched 5.3%. Sources: Yahoo Finance. Chart: MoneyTurkey.

Treasuries sold off on Tuesday after a hotter-than-expected October inflation reading, pushing the 10-year yield to 4.93%. Reuters, citing LSEG data, said traders were fully pricing a December rate hike.

MoneyTurkey Bonds Desk | 10 November 2026, yields as of shortly after the 13:30 UK CPI release (Yahoo Finance)

Key points

  • The 10-year Treasury yield jumped to 4.93% after the October inflation print.
  • The 2-year yield rose 14 basis points to 4.69%, and the 30-year touched 5.3%.
  • Reuters, citing LSEG data, said traders were fully pricing a December rate hike.

What happened

The October consumer price index came in hotter than forecast, and bonds sold off across the curve. Shortly after the 13:30 UK CPI release, the 10-year yield was at 4.93% and the 30-year had touched 5.3%, according to Yahoo Finance. Reuters said the 2-year rose 14 basis points to 4.69%.

The move reversed some of the haven buying that had supported Treasuries ahead of the data, which Bloomberg had flagged as a test of the rally.

What is moving yields

Longer-dated yields were already climbing after Fed governor Chris Waller said, ahead of the report, that he would leave the door open to a 50 basis point hike depending on inflation. The hotter print strengthened expectations of a December hike. Reuters, citing LSEG data, said traders were fully pricing a December rate hike.

Why it matters

The 10-year yield is the benchmark for US mortgage rates and corporate borrowing costs, so a jump of this size feeds quickly into financing costs for households and companies. Stocks also fell as yields rose.

What to watch

  • Pricing for the December FOMC meeting
  • The next CPI release, for confirmation of the trend
  • Oil, after Brent fell 3% to near $89 a barrel on Tuesday

Related on MoneyTurkey

For information only. Not investment advice.

Sources

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