Will inflation stick around? What oil, gold and stocks are signaling about rising prices.

Published: Nov. 24, 2024 at 12:01 p.m. ET

.css-n0gwx9-StyledNewsKitParagraph{word-break:break-word;font-size:calc((16 / var(–article-base-font-size)) * var(–article-text-size-scale) * 1rem);}.css-n0gwx9-StyledNewsKitParagraph span:first-child{line-height:0.9;}.css-r0027w-StyledNewsKitParagraph{margin:0;color:rgba(38,38,38,1);font-family:Lato,Helvetica,Arial,sans-serif;font-size:16px;line-height:1.5;font-weight:400;letter-spacing:0px;font-style:normal;text-transform:none;font-stretch:normal;margin-block-end:16px;word-break:break-word;font-size:calc((16 / var(–article-base-font-size)) * var(–article-text-size-scale) * 1rem);}.css-r0027w-StyledNewsKitParagraph svg{fill:rgba(38,38,38,1);}.css-r0027w-StyledNewsKitParagraph fontMetrics{cap-height:1433px;ascent:1974px;descent:-426px;line-gap:0;units-per-em:2000px;}.css-r0027w-StyledNewsKitParagraph span:first-child{line-height:0.9;}

Inflation worries have come back to haunt U.S. financial markets as inventors fret over whether potential policy changes in President-elect Donald Trump’s second term could stoke a resurgence of rising prices. 

Since Trump’s victory on Nov. 6, the benchmark 10-year Treasury yield .css-321ztr-OverridedLink.css-321ztr-OverridedLink:any-link{-webkit-text-decoration:none;text-decoration:none;color:rgba(54,119,168,1);border-bottom:1px solid;border-bottom-color:rgba(54,119,168,1);}.css-321ztr-OverridedLink.css-321ztr-OverridedLink:any-link.css-321ztr-OverridedLink.css-321ztr-OverridedLink:any-link svg{fill:rgba(54,119,168,1);}.css-321ztr-OverridedLink.css-321ztr-OverridedLink:any-link:hover{-webkit-text-decoration:none;text-decoration:none;color:rgba(47,112,157,1);border-bottom:1px solid;border-bottom-color:rgba(47,112,157,1);}.css-321ztr-OverridedLink.css-321ztr-OverridedLink:any-link:hover.css-321ztr-OverridedLink.css-321ztr-OverridedLink:any-link:hover svg{fill:rgba(47,112,157,1);}.css-1vykwuz-OverridedLink{display:inline;color:var(–color-interactiveLink010);-webkit-text-decoration:underline;text-decoration:underline;}@media screen and (prefers-reduced-motion: no-preference){.css-1vykwuz-OverridedLink{transition-property:color,fill;transition-duration:200ms,200ms;transition-timing-function:cubic-bezier(0, 0, .5, 1),cubic-bezier(0, 0, .5, 1);}}@media screen and (prefers-reduced-motion: reduce){.css-1vykwuz-OverridedLink{transition-property:color,fill;transition-duration:0ms;transition-timing-function:cubic-bezier(0, 0, .5, 1),cubic-bezier(0, 0, .5, 1);}}.css-1vykwuz-OverridedLink svg{fill:var(–color-interactiveLink010);}.css-1vykwuz-OverridedLink:hover:not(:disabled){color:var(–color-interactiveLink020);-webkit-text-decoration:underline;text-decoration:underline;}.css-1vykwuz-OverridedLink:hover:not(:disabled) svg{fill:var(–color-interactiveLink020);}.css-1vykwuz-OverridedLink:active:not(:disabled){color:var(–color-interactiveLink030);-webkit-text-decoration:underline;text-decoration:underline;}.css-1vykwuz-OverridedLink:active:not(:disabled) svg{fill:var(–color-interactiveLink030);}.css-1vykwuz-OverridedLink:visited:not(:disabled){color:var(–color-interactiveVisited010);-webkit-text-decoration:underline;text-decoration:underline;}.css-1vykwuz-OverridedLink:visited:not(:disabled) svg{fill:var(–color-interactiveVisited010);}.css-1vykwuz-OverridedLink:visited:hover:not(:disabled){color:var(–color-interactiveVisited010);-webkit-text-decoration:underline;text-decoration:underline;}.css-1vykwuz-OverridedLink:visited:hover:not(:disabled) svg{fill:var(–color-interactiveVisited010);}.css-1vykwuz-OverridedLink:focus-visible:not(:disabled){outline-color:var(–outlineColorDefault);outline-style:var(–outlineStyleDefault);outline-width:var(–outlineWidthDefault);outline-offset:var(–outlineOffsetDefault);}@media not all and (min-resolution: 0.001dpcm){@supports (-webkit-appearance: none) and (stroke-color: transparent){.css-1vykwuz-OverridedLink:focus-visible:not(:disabled){outline-style:var(–safariOutlineStyleDefault);}}}.css-1vykwuz-OverridedLink.css-1vykwuz-OverridedLink:any-link{-webkit-text-decoration:none;text-decoration:none;color:rgba(54,119,168,1);border-bottom:1px solid;border-bottom-color:rgba(54,119,168,1);}.css-1vykwuz-OverridedLink.css-1vykwuz-OverridedLink:any-link.css-1vykwuz-OverridedLink.css-1vykwuz-OverridedLink:any-link svg{fill:rgba(54,119,168,1);}.css-1vykwuz-OverridedLink.css-1vykwuz-OverridedLink:any-link:hover{-webkit-text-decoration:none;text-decoration:none;color:rgba(47,112,157,1);border-bottom:1px solid;border-bottom-color:rgba(47,112,157,1);}.css-1vykwuz-OverridedLink.css-1vykwuz-OverridedLink:any-link:hover.css-1vykwuz-OverridedLink.css-1vykwuz-OverridedLink:any-link:hover svg{fill:rgba(47,112,157,1);}BX:TMUBMUSD10Y has risen around 14 basis points on concerns that some of his proposed policies — including more tax cuts and import tariffs — could lead to an even greater fiscal deficit and a return of inflation, sending interest rates even higher.