Treasury yields spike as markets worry about the impact of sticky inflation on Fed policy

• The 10-year Treasury yield spiked about 12 basis points Thursday. 
• The jump followed September CPI, which showed inflation is still elevated. 
• Bond yields edged back up toward 16-year highs reached a week ago. 

Treasury yields spiked on Thursday as investors worried about the September Consumer Price Index report, which showed the pace of disinflation stalling last month. 

The 10-year Treasury yield jumped 12 basis points to hover at 4.714%, near the 16-year highs reached the week prior. The bond market has endured big swings in recent weeks and has seen a historic sell-off as investors recalibrate to the outlook for interest rates staying higher for longer.