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The 10-year Treasury yield pulled back to 4.93% after touching nearly 5%, as consumer prices rose 3.4% in August, matching July's pace
Treasury Secretary Scott Bessent (Buddhika Weerashinghe/Bloomberg via Getty Images).
U.S. Treasury yields retreated Friday after August consumer price data came in line with expectations, offering a brief reprieve from a week-long global bond selloff that had pushed the 10-year yield within striking distance of 5%.
August's Consumer Price Index showed a 0.4% monthly gain and a 3.4% year-over-year increase, unchanged from the annual rate recorded in July. The 10-year Treasury yield fell 1 basis point to 4.93% after earlier touching 4.979%, its highest level since late 2023. U.S. stock indexes rose 1% or more following the release.
