US bond yields pull back after inflation report
Global bond markets found relief after a U.S. inflation report met expectations. The benchmark 10-year Treasury yield slipped below the critical 5 percent threshold, easing investor concerns.
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United States benchmark 10-year Treasury yields pulled back from the 4.98% level on Friday after a widely anticipated inflation print met economist expectations. The respite offered brief relief to Washington officials attempting to tame surging borrowing costs.
The Consumer Price Index increased 0.4% last month, bringing the 12-month inflation rate to 3.4% through August. Stock indexes rose 1% or more following the data release, easing immediate fears of aggressive monetary tightening.
