US inflation fell more than expected to 3.2% in October, marking the first decline in four months. This figure, slightly below the expected 3.3%, compares to a 3.7% rise in the 12 months to September, Financial Times reports.
Core inflation, which excludes volatile food and energy prices, was also slightly weaker than predicted, decreasing from 4.1% to 4%.
The decline in inflation prompted Treasury yields to fall, with two-year Treasuries dropping 0.21 percentage points to 4.83%, and benchmark 10-year Treasuries down 0.19 percentage points to a three-month low of 4.44%.
Wall Street stocks climbed, with the S&P 500 and Nasdaq Composite up 1.4% and 1.9% respectively following the news.
