TREASURIES-Traders pause sell-off, study Fed intentions - NewsBreak

(Updates with market activity, analyst comment) By Dhara Ranasinghe and Ross Kerber NEW YORK / LONDON, Nov 12 (Reuters) - Selling in U.S. Treasury markets paused on Friday after five-year yields climbed to their highest since early 2020, as traders tried to gauge the pace of future central bank rate increases. U.S. bond markets were closed on Thursday and trading Friday initially picked up where it left off on Wednesday after economic data showed the biggest annual rise in U.S. inflation in 31 years. Early in the day five-year Treasury yields rose to as much as 1.263%, the highest since February 2020 and up five basis points on the day. But those yields and others then fell back as investors looked for new clues as to how quickly the U.S. Federal Reserve might start to hike interest rates, said Priya Misra, head of global rates strategy for TD Securities. "The market is taking a breather," she said. Traders have worried that rising inflation could prompt the Fed to raise interest rates