Bond yields end higher after wild session, boosted by inflation data

A wild day of bond market swings left Treasury yields higher on Thursday, reflecting investor bets that the latest hot inflation report would push the Federal Reserve to raise interest rates more than expected.

Yields, which rise when bond prices fall, initially hit new multi-year highs after the inflation data, threatening a dramatic break from their recent trading range. Bonds rebounded with equities later in the session, eroding some of the upside. But, unlike equities, they failed to recoup all of their price declines.