10-Year Treasury Yield Tops 5% as Fed Rate-Hike Bets Rise

Cointime reports: US 10-year Treasury yield rose to 5.012% and the 2-year to 4.759% on November 11 after October CPI came in at 0.4% month-on-month, above the 0.3% consensus, and Fed Governor Waller signaled a hawkish stance. Markets now price an 86% probability of a 25-basis-point Fed hike in December and a 14% chance of 50 basis points. Waller said the Fed may need larger policy action if inflation runs clearly above expectations. German 10-year bund yields rose to 3.307%, the highest since November 3.