Financial Focus
November 13, 2026 

    GOOD MORNING!     Treasury prices tumbled on more hawkish comments from Fed officials as traders started to price into the market quickened pace of interest rate hikes in an effort to cool inflation that’s headed the wrong way.  This follows" Tuesday’s sell-off in the aftermath of a hotter-than-expected Consumer Price Index (CPI) report for October.  Also pressuring the Treasury market were higher oil prices, corporate issuance and a soft 30-year T-bond auction.  The yield curve flattened as yields on the short-to-intermediate maturities, those most sensitive to Fed policy moves, rose more than the longer duration bonds.  Stocks waffled on both sides of unchanged before settling with modest losses.   
   

     Stocks are waffling again in early trading.  Treasuries are mixed and reversing a bit of yesterday’s bear flattening trade.  This comes ahead of October’s Producer Price Index (PPI) and another parade of talking Fedheads.  The latest Fedspeak came last night with NY Fed President John Williams saying that inflation was way too high and that policymakers have to take further action to contain price pressures.