Treasuries rose slightly following a significant selloff, as investors awaited new inflation data to assess U.S. interest rate trends after an unexpected surge in consumer prices. The yield on 10-year notes fell to 4.60%, having previously risen sharply. The surprising inflation increase diminished expectations for multiple Federal Reserve interest rate cuts this year, with traders now anticipating just one quarter-point reduction. Market focus has shifted to upcoming producer-price inflation figures and a $25 billion auction of 30-year bonds. Analysts suggest that cooling inflation could lead to re-evaluated rate expectations in the future.