Recent hotter-than-expected October CPI data, with headline rising 0.4% and core 0.3% versus consensus of 0.3% and 0.2%, has driven the 10-year Treasury yield to 4.98-5.00% as of November 11, 2026, its highest levels in weeks. Hawkish Fed commentary from Governor Waller and Dallas Fed President Logan, favoring at least two additional 25-basis-point rate hikes and potentially a 50-basis-point move in December, has reinforced expectations for tighter monetary policy amid resilient growth and sticky inflation. This dynamic, combined with the December 8-9 FOMC meeting and upcoming PCE and employment releases, supports elevated yields and reduces the likelihood of sharp near-term declines before year-end.