Strong Economic Data Drives Treasury Yields Higher, Raises Doubts on Imminent Fed Rate Cut

U.S. Treasury yields rose after data showed sharp rebound in homebuilding in October.

Data points to resilient economy and concerns that Fed won't cut interest rates soon.

Atlanta Fed estimates Q3 GDP growth at 5.4%, another sign of strong economy.

Investors question if Fed is committed to 2% inflation target or higher.

Probability of Fed rate hike in December around 40% based on futures market.