Fidelity's Timmer: Rising Treasury Yields Driven by Sticky Inflation and Fiscal Risk
- —The 10-year Treasury yield fell 14.6 bps last week after touching 5.33%
- —US annual inflation hit 3.7% versus 3.6% expected; core CPI came in at 2.6%
- —FedWatch puts the odds of a rate hike at the Oct. 27–28 meeting at 17.2%, down from 57.6% a month ago
- —The 10-year breakeven rate near 2.36% implies average inflation expectations of about 2.4% a year
Why it matters: Treasury yields and Fed rate expectations set the risk appetite that drives crypto markets into the Oct. 27–28 FOMC meeting.
Source: BeInCrypto KR