The yield on the US 10-year Treasury note fell below 5.2% on Tuesday as bond trading resumed after a market holiday, extending its retreat from 24-year highs after the recent global bond selloff lost momentum. Investors also turned their attention to key inflation data due this week that could influence the Federal Reserve’s monetary policy outlook. The US consumer price index report is scheduled for Wednesday, followed by producer inflation data on Thursday. Markets are pricing in roughly an 80% probability that the Fed will keep interest rates unchanged this month, while assigning nearly an 88% chance of a rate hike in December. Investors will also assess existing home sales figures and remarks from Fed officials Christopher Waller, Tom Barkin and Susan Collins on Tuesday. Meanwhile, escalating geopolitical tensions in the Middle East and Eastern Europe continued to support elevated oil prices, adding to inflationary pressures.