U.S. 10-year Treasury yields surged above 5% following hotter-than-expected inflation data, putting pressure on the bond market. The move came during a $42 billion auction of 10-year notes, which concluded with a high yield of 5.020%. The auction saw a lower bid-to-cover ratio of 2.46, down from 2.77 previously, signaling weakening demand. Prediction markets now price a reduced likelihood of the 5-year Treasury yield dipping below 4.10% before 2027. Investors will watch upcoming Federal Reserve statements, economic data releases and future Treasury auctions, as changes in demand dynamics could shift yield expectations.
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