US 10-year Treasury yield returned to 5%, the first time since November.

US October CPI unexpectedly accelerated: headline CPI rose 0.4% MoM and core CPI (ex food and energy) rose 0.3% MoM. The Bureau of Labor Statistics did not publish a YoY inflation rate because data collection was disrupted during last year’s government shutdown. Two-year Treasury yields jumped after the release; the two-year is highly sensitive to shifts in Fed rate expectations. The print has pushed markets to price a higher probability of additional rate hikes next year.

Litgrid, Lithuania's grid operator, said Lithuania will build 10 flexible power plants by 2033 to bolster grid resilience, drawing on Ukraine's experience in maintaining power-system resilience.