US 10-Year Yield Hits Highest Since July on Inflation Angst

The yield on benchmark 10-year Treasuries rose to the highest since July as evidence of accelerating US inflation pushed traders to almost fully price in a Federal Reserve interest-rate hike in the coming year.

The 10-year yield increased almost two basis points on Wednesday to as high as roughly 4.49% after US wholesale inflation accelerated in April to the fastest pace since 2022 amid a war-driven rise in energy prices. Yields across maturities reached session highs after the data before retreating to little-changed levels, and the dollar rose.