Bond yields surge most in 19 months as traders brace for Fed rate hikes
Hotter-than-expected inflation pushed markets to price in a higher chance of a December Fed hike, while 2-year Treasury yields jumped nearly 19 basis points.
- On Tuesday, Nov 10, 2026, U.S. stocks closed lower as hotter-than-expected inflation data drove bond yields sharply higher, with the 10-year Treasury yield jumping 10 basis points to 4.98% and briefly surpassing 5% during trading.
- Overall consumer prices jumped 0.4% last month, topping estimates for a third straight month, while Fed Governor Christopher Waller warned he would consider a 50 basis point rate hike if inflation persists.
- Dallas Fed President Lorie Logan stated the Fed needs at least two additional quarter-point rate increases, while traders are pricing in a 91% chance of a quarter-point hike in December, according to CME FedWatch.
- The S&P 500 technology sector dropped 1.4% on Tuesday as the worst-performing major sector, weighed down by Nvidia shares which fell 5.4%, while declining issues outnumbered advancers by a 2.27-to-1 ratio on the New York Stock Exchange.
- Economists remain divided on the pace of policy tightening through 2027, as market strategist Peter Boockvar noted soft demand at the 10-year note auction added further pressure to bonds and mortgage rates.
20 Articles
20 Articles
Bond yields surge most in 19 months as traders brace for Fed rate hikes
By John Towfighi, CNN New York (CNN) — US Treasuries slumped, pushing yields sharply higher, after hotter-than-expected inflation data and comments from a key Federal Reserve official fueled bets that the central bank would need to deliver more aggressive interest rate hikes to cool inflation. The two-year Treasury yield, which closely tracks expectations for Fed
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