Yields
The 10-year Treasury yield fell 2 basis points to 5.215%, CNBC reported, while the 30-year stood at 5.564% and the 2-year was unchanged at 4.791%. The cash market reopened after being closed for Columbus Day.
Inflation test
Economists had forecast September CPI at 3.7% year over year, up from 3.4%, CNBC reported. The Labor Department said on Wednesday, October 14, that consumer prices rose 3.7% in September from a year earlier, up from 3.4% in August, with core inflation at 2.6%, the Associated Press reported.
Why it matters
With the 10-year above 5%, every inflation surprise can feed into mortgage and corporate borrowing costs. What to watch: the Fed's October 27-28 meeting, where hotter core inflation could revive talk of a rate increase.