The policy-sensitive 2-year Treasury yield fell 18.7 basis points to 4.85% on Tuesday after October’s consumer price index showed a slowing headline rate of inflation. Meanwhile, the report raised traders’ hopes for at least four rate cuts by the Federal Reserve next year. Yields on everything from the 1-year bill to the 30-year bond were plummeting after the data, with the 10-year rate down 19.5 basis points to below 4.44%.
