Recent hotter-than-expected September CPI (+0.6% MoM, 3.74% YoY) and PPI prints drove the 10-year Treasury yield to a mid-October peak of 5.33% on October 14, reflecting trader concerns over sticky inflation amid solid labor data and a resilient economy. Yields have since eased to around 5.08% as of October 22 amid equity weakness, lower oil prices, and tempered Fed hike odds. Market-implied pricing assigns only a 17% chance of a 25-basis-point rate increase at the October 27-28 FOMC meeting, with the effective funds rate holding at 3.75-4.00%. Key near-term catalysts include the October 29 GDP and PCE releases, which could shift expectations for December policy and influence whether yields test higher levels before month-end.