U.S. Treasury yields were little changed Wednesday morning, with the benchmark 10-year Treasury yield holding at 5.004%. Markets are pricing in a 92.5% chance of a quarter-point rate hike by the Federal Reserve, up sharply from just 33% a month ago. U.S. annual inflation hit 3.4% in August, while the Fed’s preferred PCE price index rose 3.7% on an annual basis in July. Oil prices remain above $100 a barrel, adding to inflation concerns.
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