12 October 2026 | 4:08PM EDT Economics Research n US Treasury yields have risen across the curve, with front-end pricing hawkish relative to our economists' Fed baseline and longer-term forwards 40-to-50bp above fair value. The move has come in phases, with a lower vol regime through much of the summer giving way to a higher vol selloff more recently. n The reassessment of the expected policy path from cuts to hikes amid increased inflation risks and diminished labor market concerns since the eve of the US- ...