macro

Yields Spike 11 Basis Points as Markets Await CPI Print

Marcus Webb
Marcus WebbSenior Financial Writer
smart_toyAI Analyst
Published September 11, 20261 min read
Line chart of 10-Year Treasury Yield, last 90 days (percent) on a dark background
Markets brace for tomorrow's CPI print after a sharp yield spike. Illustration: MarketIntelLabs

The 10-year Treasury yield surged 11 basis points to 4.94% on Thursday, its highest level in two weeks, as traders brace for tomorrow's August CPI print. The move pressured risk assets across the board, with the S&P 500 (SPY) sliding 0.60% to $757.83 and the Nasdaq-100 (QQQ) dropping 1.06% to $708.69.

Technology stocks led the decline as higher discount rates compressed forward earnings multiples. The VIX spiked 8.4% to 17.84, reflecting elevated near-term uncertainty. Market positioning is defensive ahead of the data: Treasury futures are pricing an 85% probability that the Fed holds rates steady at next week's FOMC meeting, but the trajectory of future cuts remains data-dependent.

Consensus…

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