Treasury yields are near their highest levels since June

Treasurys are sliding after consumer price index data released by the Bureau of Labour Statistics showed prices rose 1.5% year-over-year in September, matching economist forecasts. Additionally, core CPI jumped 2.2%, missing the 2.3% that economists were expecting.

Post-data selling has run yields to their highest levels of the session at the long end of the curve while action up front hovers little changed. Here’s a look at the scoreboard as of 9:18 a.m. ET:

  • 2-year -0.4 basis points at 81.1 bps
  • 3-year unch @ 97.3 bps
  • 5-year +0.2 bps @ 1.256%
  • 7-year +0.7 bps @ 1.558%
  • 10-year +1.1 bps @ 1.777%
  • 30-year +2.3 bps @ 2.544%

Traders are paying close attention to the long end of the curve as yields there hover near their highest levels since June. The 10-year yield continues to flirt with resistance in the 1.80% area while the 30-year contends with congestion near 2.55%/2.60%.

Tuesday’s selling has swung the yield curve a bit steeper as the 2-10-year spread trades wider at 97 bps, and sits near its widest level since the middle of May.

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