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Daily brief

Fed officials open door to a half-percentage-point rate hike as inflat, 10s +2bp

Tue 10 Nov 2026

Treasuries (close 2026-11-06): 2s 4.51% (+5.0bp), 10s 4.86% (+2.0bp), 30s 5.26% (+1.0bp).

Tape (close 2026-11-06): VIX 19.92, 2s10s +32bp.

Narrative: Fed's Waller Puts Jumbo Rate Hike on the Table Ahead of Hot Inflation Print

What mattered:

  • Fed officials open door to a half-percentage-point rate hike as inflation worsens
  • Fed's Waller opens door to half-point rate hike in December
  • Dollar jumps as hot CPI and Waller comments bring supersized Fed hike into play
  • Treasuries slide as ‘hot’ inflation sparks bets on Fed rate rise
  • Higher-than-expected October inflation sparks Treasury sell-off
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