US Treasury yields rose today as investors focus on US inflation data. The 10-year yield stood at 4.796%, and the 30-year yield at 5.249%. Brent crude oil prices surged close to $100 per barrel after Houthi attacks on Saudi oil facilities. Investors await the Producer Price Index (PPI) on Thursday and the Consumer Price Index (CPI) on Friday. The overall CPI is expected to rise 3.4% year-over-year and 0.4% month-over-month, while core CPI is expected to increase 2.4% year-over-year and 0.2% month-over-month. Additionally, the CME Group's FedWatch Tool indicates investors assign a 58.4% probability that the Fed will raise interest rates by 0.25% on September 16.
Rising yields reflect expectations of Fed rate hike and inflation data
Rising yields reflect expectations of Fed rate hike and inflation data
