Yields on the debt are the biggest determinant of how much it costs to buy a home, fund a business, or pay the interest on the national debt.

A jump in wholesale prices is likely to bolster concerns among Federal Reserve policymakers that rising inflation remains a risk, intensifying debate over the rationale for an interest rate cut next month and leaving the tension between the U.

Futures markets are also expecting a rate cut. Investors peg the chances of a quarter-point interest rate cut at nearly 96%, according to the CME FedWatch Tool, a measure of market sentiment.