US Treasury Yields Climb Higher, Core CPI Supports the Rise
Arslan Butt • 1 min read
On Monday, US Treasury yields continued their climb higher after the US core CPI came in stronger than expected. Early on Monday morning, the yield on the 10-year Treasury note rose to 2.1271% while the yield on the 30-year Treasury note climbed to 2.657%.
Last week, the core CPI rose to its highest levels in 18 months. In addition, weak demand during recent Treasury auctions have helped drive up the yields. Over the past few days, the US bond yields had fallen over increased sentiments for a rate cut by the Fed.
The yield on the 10-year Treasury note had fallen below the key 2% level, giving the markets a scare that a possible recession was looming. Fortunately, the CPI as well as a strong employment report have served to allay some of these concerns, for now.