The long-term rate-indicative 10-year Treasury yield jumped above 4.20% Friday morning following an unexpected increase in the consumer price index.The benchmark yield was trading at about 4.23% shortly before noon Friday. The 0.8% CPI increase in November is considered inflationary and could complicate the Federal Reserve's future decisions on whether to cut short-term rates to alleviate the credit crunch, said Deutsche Bank economists Joseph LaVorgna and Carl Riccadonna in a Friday morning report.
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