Yields rise after US CPI data

NEW YORK: US Treasury yields on Wednesday rose after data showed gains in U.S. consumer prices in October, keeping the Federal Reserve firmly on track to raise interest rates next month and a few more times in 2019.

The Labor Department said the U.S. consumer price index increased by 0.3 percent last month after edging up 0.1 percent in September. October's rise was the most in nine months amid gains in the cost of gasoline and rents.

Excluding the volatile food and energy components, CPI climbed 0.2 percent. The so-called core CPI had gained 0.1 percent for two straight months.

In morning trading, benchmark 10-year note yields rose as high as 3.1543 percent after the data from 3.145 percent late on Tuesday.

U.S. 30-year yields climbed to 3.376 percent after rising to 3.370 percent after the data, compared with Tuesday's 3.367 percent.