U.S. 10-year Treasury yield rises to 4.99% after inflation data
Key Facts
The U.S. 10-year Treasury yield rose to 4.99% on Tuesday, from 4.88% late Monday, according to the Associated Press. The move came as data showed the U.S. consumer price index rose 0.4% in October from a month earlier, after a 0.6% increase in September, according to the Bureau of Labor Statistics. The figures put price trends at the forefront of bond-market attention, as yields rose alongside the report. But the 10-year yield did not exceed 5% at the level reported by the agency that day. The yield had been trending lower since early October before its course changed with the release of the price data.
On core inflation, the consumer price index excluding food and energy rose 0.3% in October, the same monthly increase recorded in September and August, according to the Bureau of Labor Statistics. That provides a parallel reading to the headline index, whose monthly pace slowed from 0.6% to 0.4% between September and October. The consumer price index for all urban consumers, not seasonally adjusted, stood at 337.511 in October, on a 1982–84=100 basis. The October release does not include an annual change in the index; the bureau said it did not collect survey data for October 2025 because of a lapse in government funding. The available release details therefore focus on the monthly comparison, the core index reading and the unadjusted index level.
The market move was reflected in a decline in U.S. stocks during Tuesday trading, with the S&P 500 down 0.7% and the Nasdaq Composite down 0.8%. The Dow Jones Industrial Average lost 333 points, or 0.6%, by 10:45 a.m. Eastern time, according to the Associated Press. In energy markets, Brent crude fell 2.4% to $90.31 a barrel that day. The agency reported that the inflation data could prompt the Federal Reserve to raise its benchmark interest rate at its next meeting in December and beyond. That signal puts the rate path in focus after the October reading, without specifying the size or timing of any potential move.
Attention now turns to October producer price data, which the Bureau of Labor Statistics has scheduled for release on Friday, November 13, 2026, at 08:30 a.m. Eastern time. The November consumer price index will follow on Thursday, December 10, 2026, at 08:30 a.m. Eastern time, according to the bureau’s schedule. The two releases will provide consecutive updates on price data in the coming weeks. The current October reading combines a monthly increase in the headline index with the core index’s monthly gain holding at 0.3% for the third consecutive month. No year-over-year comparison for October is available in this release because data for the same month a year earlier were not collected.