US stocks and bonds jump after inflation falls to 3.2%

US inflation fell more than expected to 3.2 per cent in October, the first decline in four months, prompting Treasury yields to fall sharply and Wall Street stocks to climb.

The yield on two-year Treasury, which moves inversely to prices, was down 0.21 percentage points at 4.83 per cent on Tuesday evening. The yield on the benchmark 10-year Treasury dropped to a three-month low of 4.43 per cent.

The S&P 500 rose 1.9 per cent, its biggest one-day jump since April. The Nasdaq Composite climbed 2.4 per cent.

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This page was last updated 15.11.2023 09:00