US Oct CPI MoM +0.4% (exp +0.3%), and hawkish signals from Fed governor WALLER
pushed Treasury yields broadly higher. 10-year Treasury yield hit 5.012%, 2-year
4.759%. Market-implied odds for a 25bp Fed hike in December are 86%, 50bp odds
14%. WALLER said if inf runs materially above expectations the Fed may need
larger policy action. European bond markets repriced: German 10-year Bund yield
rose to 3.307%, highest since Nov. 3.
