Overview
- Investors extended selling of long-dated Treasuries after April consumer prices rose 3.8% from a year earlier, keeping the 30-year yield near 5% and the 10-year near 4.45% to 4.50%.
- CNBC reported a modest pullback as traders assessed the data, with the 10-year around 4.459% and the 30-year about 5.023%.
- Oil’s surge has fed headline inflation, with Brent crude above $107 a barrel and U.S. gasoline averaging about $4.50 a gallon, according to FactSet and AAA.
- The Treasury plans to sell $42 billion in 10-year notes and $25 billion in 30-year bonds this week, a wave of new supply that can lift yields.
- Higher yields risk pushing mortgage rates back above 7% and underscore that the Federal Reserve has limited sway over longer maturities, as futures pricing points to uncertain policy odds into 2027.