Two-Year Treasury Yield Jumps 17 Basis Points, Largest Daily Rise in 19 Months, on Core Inflation at 0.3%

Treasury yields jumped after core inflation hit 0.3% versus 0.2% forecast. The two-year yield rose 17 basis points, largest daily rise in 19 months. The 10-year yield gained 10 basis points to 4.98%. Fed Governor Chris Waller said he would consider a 50 basis point hike in December if core inflation stays at 0.3% or higher. Traders assigned a 91% probability to a quarter point December hike.