Hotter October CPI Sends 10-Year Yield Back Toward 5%, Stocks Slide

US consumer prices rose 0.4% in October versus a 0.3% forecast, with core CPI up 0.3% against 0.2% expected. Treasury yields jumped, with the 10-year reclaiming the 5% mark during the session and stocks falling, reversing part of Monday's rebound. The data reinforced expectations of a Fed rate hike in December.