U.S. 10-Year Treasury yield hits 4.95% ahead of CPI
The U.S. 10-year Treasury yield rose to 4.95% ahead of upcoming CPI data.
S. 95% and marked a 100-basis-point rally since early March. He also pointed to rising oil prices and geopolitical tensions as factors weighing on the bond market, along with expectations for more aggressive rate hikes. Colvin said the CME Group Volatility Index (CVOL) showed implied volatility tracking yields higher and reaching its highest level in over a month.
Attention now turns to Friday's Consumer Price Index and University of Michigan sentiment data, which will give the Federal Reserve key information ahead of its upcoming meeting.