US Treasury yields fall as 10-year drops below 5.11% on inflation data

US Treasury yields fell on Thursday, with the 10-year yield dropping below 5.11% as investors shifted funds from technology stocks into safer government bonds ahead of key economic data. The benchmark 10-year yield declined over 8 basis points to 5.102%, while the 30-year yield fell to 5.439% and the 2-year yield dropped to 4.751%. Investors were assessing September CPI data released Wednesday, which showed annual inflation at 3.7%, slightly above forecasts. Core inflation also exceeded expectations at 2.6% annually, driven partly by a 9.1% rise in gasoline prices. Markets awaited further reports including PPI, retail sales, and jobless claims, while Fed rate hike odds fell to 31% from an intraday peak of 58% following the inflation data.