10-Year Treasury Yield Falls to 5.10% as September Inflation Rises

U.S. Treasury yields were lower on Oct. 15 than a day earlier as September consumer and producer prices rose, but the daily figures do not establish what drove the change. The 10-year Treasury’s daily par yield was 5.10% on Oct. 15, compared with 5.19% on Oct. 14. The two-year yield also moved lower, to 4.77% from 4.82%. The gap between the 10-year and two-year yields was 33 basis points on Oct. 15, compared with 51 basis points on Oct. 7. That spread is the difference between the two yields; its narrowing describes a flatter yield curve. The Consumer Price Index (CPI) rose 0.6% in September, with prices up 3.7% over 12 months. Gasoline prices climbed 9.1%, accounting for more than half of the monthly increase.

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