U.S. bond yields surged on Wednesday following the release of a hot consumer-price index report. This inflation spike puts the Federal Reserve in a delicate situation, caught between the need to raise interest rates to contain prices and the economic risks of overly aggressive tightening. Brian Rehling, co-head of global fixed-income strategy and digital-asset strategy at Wells Fargo Investment Institute, said there is no way to spin Wednesday’s CPI report as good news, especially given the bond market’s reaction.
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