US 10-year Treasury yields reach 24-year high above 5.3% as inflation beats forecasts
CIE News ·
Based on reporting by BeInCrypto; not yet independently confirmed.
Bureau of Labor Statistics data showed headline CPI rose 3.7% year-over-year, driving 10-year Treasury yields above 5.3% before rates settled between 5.0% and 5.25%.
Data released by the Bureau of Labor Statistics showed headline CPI increased by 3.7% year-over-year, coming in above the 3.6% forecast. Producer prices also climbed, with the September PPI advancing 6.3% compared to the prior year.
The inflation figures pushed benchmark 10-year U.S. Treasury yields to a 24-year peak above 5.3% in early October, according to KuCoin. Yields later moderated to trade between 5.0% and 5.25%.
Rising government borrowing rates have prompted discussion in the digital asset sector regarding traditional portfolio construction. ParaFi investor Jeff Park questioned conventional asset allocation models that use bonds for stability, arguing that investments should be evaluated against potential returns from Bitcoin (BTC). However, analyst Willy Woo noted that an economy centered on BTC could experience slower growth due to debt repayment hurdles, while bond ETFs continue to record capital inflows.
Key facts
- Headline CPI rose 3.7% YoY
- September PPI up 6.3% YoY
- 10-year yield topped 5.3%
- Rates moderated to 5.0%-5.25%
Read the original at BeInCrypto