Strong economic data released in October saw U.S. Treasury yields rise sharply across the curve, breaking a five-month streak of falling rates. Inflation data was higher than expected with services inflation, particularly shelter, remaining persistently high. Other economic data also pointed to enduring growth and a healthy consumer, casting doubt on the magnitude and urgency of a needed Fed easing.

To receive the full market review, please contact us at [email protected] or subscribe to the monthly market review on our contact page.