10-year Treasury yield rises to highest level in 10 months on hotter-than-expected inflation data

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Wed, May 13, 2026 astatine 10:29 AM CDT 2 min read

US Treasury yields roseate to their highest levels successful 10 months arsenic investors digested 2 hotter-than-expected ostentation readings.

The 10-year Treasury output (^TNX) edged up toward the cardinal 4.5% level and was sitting astatine 4.48% connected Wednesday morning. It is presently astatine its highest level since July of past year.

The longer-dated 30-year output (^TYX) besides traded astatine a 10-month precocious and roseate backmost supra the cardinal intelligence level of 5%, portion the 5-year output (^FVX) roseate somewhat to 4.14%.

Bond yields and prices determination successful other directions, meaning erstwhile yields rise, prices fall.

4.4900 +0.0270 (+0.60%)

As of 10:35:05 AM CDT. Market Open.

^TNX ^TYX ^FVX

The 4.5% level connected the 10-year output and 5% level connected the 30-year output are seen arsenic captious levels that tin statesman to exert downward unit connected equities. On Tuesday, seasoned marketplace strategist Ed Yardeni told Bloomberg TV he’s not “freaked out” by the determination higher.

“I benignant of presumption enslaved yields of 4 and a 4th percent to 4 and three-quarter percent arsenic mean — I’m not getting freaked retired by it,” Yardeni told Bloomberg. “The US enslaved is inactive viewed arsenic the harmless haven, and there’s plentifulness of reasons to interest astir things these days.”

All 3 enslaved yields person moved up betwixt 2%-4% implicit the past 5 days arsenic markets priced successful higher ostentation expectations and a higher likelihood that the Federal Reserve would hold involvement complaint cuts oregon adjacent perchance hike rates this year.

On Wednesday, wholesale ostentation information fueled higher ostentation expectations arsenic the Producer Price Index (PPI) showed header wholesale prices roseate by 6% connected an yearly ground successful April. That came connected the heels of a blistery Consumer Price Index (CPI) study connected Tuesday that besides showed user terms increases accelerated successful April.

Following those reports, markets priced successful a 36% accidental of a complaint hike by December, according to CME Group’s FedWatch, up from a astir 16% probability a week ago.