Yields on US Treasuries climbed across durations on Wednesday after consumer prices accelerated in September ramping up expectations that the Federal Reserve will have to increase interest rates to try to tame stubborn inflation.
Yields on 2-year Treasuries climbed to their highest levels in more than two weeks after the Labor Department's Bureau of Labor Statistics said the Consumer Price Index rose 0.6% last month after climbing 0.4% in August. In the 12 months through September, the CPI advanced 3.7% compared with economist expectations for 3.6% and a 3.4% increase in August.
