10-year US treasury yield hits 4.47% amid inflation data

The yield on the 10-year US Treasury note climbed above 4.47% on Thursday, approaching its highest level since early June, as investors reacted to the latest inflation data and statements from Federal Reserve officials.

10-year US treasury yield hits 4.47% amid inflation data

The US annual inflation rate rose 2.6% in October, up from 2.4% in September, in line with market expectations. The core inflation rate held steady at 3.3%, also meeting forecasts. Several Federal Reserve officials expressed confidence that inflation will return to the target level as interest rates are adjusted gradually. Investors are focused on upcoming US producer inflation data, Fed Chair Jerome Powell's remarks, and retail sales figures on Friday for further clues about the rate outlook.

Treasury yields rise as "Trump Trades" fuel growth and inflation bets

Additionally, Treasury yields continued to benefit from “Trump trades,” with markets betting that strong economic growth and higher inflation under the incoming administration will limit the Fed’s ability to lower borrowing costs.