US Treasury yields fall: 10-year drops below 5.11% as investors await inflation data
US Treasury yields fall as the 10-year yield drops below 5.11%, while investors assess September CPI data and await more US economic reports.
US Treasury yields dropped on Thursday as investors flocked to safer assets. The 10-year yield fell below 5.11%, falling by 8 basis points to 5.102%. The 30-year yield also declined by 8 basis points to 5.439%. The 2-year yield decreased by 5 basis points to 4.751%. Other yields, including the 1-month, 1-year, 6-month, and 3-month Treasuries, also moved lower.
Investors were awaiting economic data, particularly inflation figures, to gauge the US economy's trajectory. The latest CPI report showed inflation at 0.6% monthly and 3.7% annually, exceeding expectations. Higher energy prices, especially gasoline, contributed to the inflation surge. The Federal Reserve's next interest rate decision was under scrutiny, with concerns about potential rate hikes rising after the inflation data. The probability of a rate increase at the Fed's next meeting fell to 31%, down from a peak of 58%.
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