Ten-year Treasury yield (^TNX) are moving to the upside following this morning's Consumer Price Index (CPI) print for the month of March. Morning Brief anchor Madison Mills monitors the activity across the rest of the bond market (^TYX, ^FVX) and even the US dollar (DX-Y.NB) as markets digest the hotter-than-expected inflation data.

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Editor's note: This article was written by Luke Carberry Mogan.

Video Transcript

MADISON MILLS: The hotter-than-expected CPI report, pushing Treasury yields up this morning-- I want to take a look at what we're seeing specifically in the 10-year hitting that, 4.5 handle, which we've been calling a key technical level for the 10 year here.

And as you can see, what is this bump up here? That is, of course, our hotter-than-expected CPI print hitting at 8:30 AM, pushing up the 10 year to that 4.5 level, investor notes this morning, and some conversations I have had saying that 4.7 is the next key level to look at when it comes to the 10 year.

Also, taking a look at the 30-year yield that's hitting a little over 4.5 here. We also have the five-year note, so the really seen movement across the curve here. I also want to transition a little bit because we're not just seeing the strength in the Treasury market, which indicates a higher-for-longer environment, as we were just saying. We're also seeing strength in the dollar here.

You can see here as well that push upward when it comes to that CPI print. So you can really see evidence across the board. Here, even if you take a look at something like the VIX up this morning, and then, of course, within the Treasury space seeing investors pricing in this higher-for-longer environment.

And Seana, as I've been mentioning throughout the morning, I'm looking ahead to when we might see investors pricing in not only less of a chance for rate cuts in the fall and the summer, rather, but whether or not we might see investors starting to price in November as the first potential chance for the Fed to cut rates.