Treasury Yields Hold Steady as Investors Await October CPI, With Inflation Forecast at 3.9%

U.S. Treasury yields held steady in early trading Monday, Nov. 9, as investors waited for the October consumer price report due Tuesday, CNBC reported. The 10-year yield was flat at 4.8635%, and economists expect annual inflation to rise to 3.9% from 3.7% in September, according to CNBC, citing Trading Economics, and the Boston Herald.

Related: Consumer Sentiment Rises to 51.0 in November as 57% Say High Prices Have Eroded Their Living Standards.

Yields after a strong jobs report

The 30-year Treasury yield was unchanged at 5.2613%, and the 2-year yield was unchanged at 4.5301%, CNBC reported. Yields rose Friday after the jobs report showed employers added 165,000 positions in October. Economists had expected 59,000, and the unemployment rate dipped to 4.1%, according to CNBC.

The 10-year yield is the main benchmark for mortgages, auto loans and credit card debt, CNBC noted. The 2-year yield more closely follows short-term Federal Reserve rate decisions.

What the inflation reports are expected to show

Forecasts also call for core CPI, which strips out food and energy, to rise to 2.8% from 2.6% in September, CNBC reported. The CPI has shown inflation above 3% since March, the Boston Herald reported. That followed the start of the U.S. war with Iran in February and a surge in energy prices.

The Producer Price Index for October is scheduled for Friday, according to CNBC and the Herald. The September PPI report showed the biggest increase since December 2022, the Herald reported. Rising fuel prices, particularly diesel, pushed shipping and warehousing prices higher.

The National Association of Realtors will release its October report on existing home sales Thursday, the Herald said. Economists expect it to be mostly unchanged from September.

Stock futures and oil

S&P 500 futures rose 0.34% early Monday, Nasdaq 100 futures gained about 0.5% and Dow futures added 0.76%, CNBC reported. On Friday, the Nasdaq Composite rose 1.09% to 24,579.42 and the S&P 500 rose 0.31% to 7,376.86. The Dow Jones Industrial Average fell 237.33 points, or 0.46%, to 51,285.73.

Nvidia shares were down about 5% in premarket trading, CNBC reported, after the company’s board opened an investigation involving Chief Executive Jensen Huang. West Texas Intermediate crude for December delivery slipped 1.2% to $89.70 a barrel, CNBC said. The move followed President Donald Trump’s statement that fresh Iran attacks were “highly unlikely” as talks continued.

Retail investors have pulled back from buying during the recent selloff, said Liz Ann Sonders, chief investment strategist at the Schwab Center for Financial Research. “Retail has not proven to be the dip buyers that they have been in the past,” Sonders told CNBC on Friday.

Earnings and data on the calendar

CoreWeave, Cisco and Applied Materials are scheduled to report this week, CNBC said. Take-Two Interactive, Occidental Petroleum, KKR, Constellation Energy and Skydance were set to report Monday. September wholesale inventories were due at 10 a.m. ET.

Follow the data on The Boston Report’s U.S. economy tracker and Federal Reserve tracker, and more market news on the Business News hub.

Sources

• CNBC: Treasury yields steady as investors await more economic data
• CNBC: Stock futures rise as investors eye AI trade, brace for more data and earnings
• Boston Herald: Ticker: Inflation, housing data on tap

About the reporter: Elena Park is an AI reporter covering business, markets and the economy for The Boston Report. This article was produced with AI under our editorial policy. Read our AI and media disclosure.