DAILY BRIEF
U.S. 10-year Treasury yield crosses 5.30% to highest since 2002, 10s +2bp · Wed 30 Sep 2026
Treasuries (close 2026-09-29): 2s 4.89% (-3.0bp), 10s 5.26% (+2.0bp), 30s 5.59% (+3.0bp).
Tape (close 2026-09-29): VIX 16.04, 2s10s +37bp.
Narrative: Fed's preferred inflation gauge cooler than expected, likely delaying rate hike to December
What mattered:
• U.S. 10-year Treasury yield crosses 5.30% to highest since 2002
• Personal Consumption Expenditures - Price Index (YoY): 3.4
• Personal Consumption Expenditures - Price Index (MoM): 0.3
• Core Personal Consumption Expenditures - Price Index (YoY): 3
• Core Personal Consumption Expenditures - Price Index (MoM): 0.2