Bond Report: Long-dated Treasury yields hit the highest level in three weeks after U.S. retail sales data

Long-dated Treasury yields hit their highest levels in three weeks on Tuesday after data showed a surge in U.S. retail sales for October and one policy maker said the Federal Reserve might need to move in a more hawkish direction to account for the recent rise in inflation.

What are yields doing?What’s driving the market?

Data released on Tuesday showed October sales at U.S. retailers, such as WalMart Inc. WMT and Amazon.com Inc. AMZN, rose at the fastest pace in seven months, impacted by high inflation. Retail sales surged…