US 10-Year Treasury Yield Falls
The yield on the US 10-year Treasury note fell nearly 13 basis points to 5.05% on Thursday, amid a broad flight to safety as a global equity sell-off and tech rout fueled concerns over the sustainability of AI spending in a high-interest-rate environment. A much hotter-than-expected US PPI report did little to shift expectations that the Fed would keep borrowing costs elevated for longer. US producer prices surged 1.3% month-over-month in September, the largest increase since March 2022 and well above market forecasts of 0.5%. Meanwhile, retail sales rose 0.8%, significantly exceeding expectations of 0.3%.
The yield on the US 10-year Treasury note fell nearly 13 basis points to 5.05% on Thursday, amid a broad flight to safety as a global equity sell-off and tech rout fueled concerns over the sustainability of AI spending in a high-interest-rate environment. A much hotter-than-expected US PPI report did little to shift expectations that the Fed would keep borrowing costs elevated for longer. US producer prices surged 1.3% month-over-month in September, the largest increase since March 2022 and well above market forecasts of 0.5%. Meanwhile, retail sales rose 0.8%, significantly exceeding expectations of 0.3%.