The 10-year US Treasury yield plunged 31 basis points and the US dollar Index fell more than 2%. The Nasdaq closed an eye-popping 7.35% higher, and the Dow Jones Industrial Average spiked nearly 1,200 points. Meanwhile, core monthly inflation, which excludes food and energy, increased 0.3%, below estimates for a rise of 0.5%. The move in assets was immediate following the CPI release, with the 10-year US Treasury yield plunging an immediate 20 basis points, eventually falling 31 basis points. Meanwhile, the US Dollar Index plunged more than 2%, it's weakest day in more than 10 years.

Source: Economic Times November 11, 2022 04:40 UTC