Good FRED chart from Yogi. Inflation turned in mid-summer; the year-over-year comparison doesn't pick up the magnitude of the change, given that it still includes very high months, e.g., when month-over-month jumps were a full percent or more, from March thru June. Month-over-month readings are far down from those months. Year over year is a view through a rearview mirror.
The last 4 months' CPI changes (these are rounded to one decimal place) give a better picture of current inflation.
July 0.0%
Aug 0.1%
Sept 0.4%
Oct 0.4%
Since the sharp turn in July's reading, annualized inflation has been less than 3%. If you annualize only October or the two higher months' readings, it's still significantly less than year-over-year.
Bond funds rallied hard today, e.g., multisector Ponax +1.76%; core plus Dbltx +1.62%; Treasuries TLT 3.85% and IEF 2.24%. Munis are off the bottom too.
No drawing conclusions from one day's action for me, but there has been a big shift in inflationary pressure that may be getting some attention now. Does it have legs? Quien sabe ...

I just noticed Giroux still owns GE. As of 10/31/22 GE is 2.35% of assets.

Nice positive article by Jeff Kosnett in current ( Dec 22) Kiplingers Personal Finance magazine page 25, of the above fund families. Very complimentary view of David Sherman the manager who posts here. I have owned RPHIX since it was first reviewed here many years ago and CBLDX for the past year or so with commendable results.

CME FedWatch now is showing 50-25-25-25 to 5.00-5.25% in mid-2023.
https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html
52-wk T-Bill (EOD) 4.59% (also the peak of the yield-curve).
https://home.treasury.gov/resource-center/data-chart-center/interest-rates/TextView?type=daily_treasury_bill_rates&field_tdr_date_value_month=202211

The terminal rate is projected to be 5.00-5.25% if the Fed maintains their path of rate hike. That is the worse scenario if the inflation fails to response to the rate hikes. Now there is an indication that it is slowing, and a more moderate pace could be sufficient. Getting yield close to the terminal rate is actually very good, especially when these are longer duration CDs. Tomorrow the bond market is closed, but we may see new brokered CDs.
By the way, yields of money market funds have moved up to 3%.
Thanks to @yogibb, I have updated the Fed’s terminal rate above.

@Sven, there was some heavy and fast CD buying this AM. It may just be a knee-jerk reaction to today's CPI.
I'm thinking Banks may cap their CD rates closer to 5% if the target Fed Funds Rate is seen maxing out at 4.50%. - 4.75%. Hope I am wrong about this, and CD rates crawl higher from here. But 6% CDs now seem like a stretch.
Gonna have to wait and see. Today was weird.

Mortgage rates dropped too. Call me skeptical but I'm not sure today's CPI necessarily constitutes a trend, though it would be nice if it did. I'd be delighted with a few more 5% up days: a couple years' worth of CD returns just like that!

@JD_co- thanks much for that info- I followed and did likewise:
• UBS Bank USA UT, Cusip 90348J7C8, 4.9%, 11/18/24
• UBS Bank USA UT, Cusip 90348J7D6, 4.95%, 11/17/25
OJ

Today's CPI and core CPI numbers suggested inflation may have peaked and likely to fall further. Imagine if the numbers came out on the opposite side?
This implies next rate hike will be smaller, 50 bps in December and taper down to 25-25-25 for next few FOMC meetings in 2023, until it reaches some terminal rate, ~5%. I will be patient and buy what is available. It is likely there will be more opportunities in coming months.

@Sven, yes, looking for 3-10 year CDs, and they are all disappearing fast. Snagged some 4.95% non-callables today (3 and 4 year CD terms).
You have any other ideas/suggestions?
Today's activity is spooking me out.

see threads (if possible)
https://twitter.com/JustinWolfers/status/1590703184799883269
https://twitter.com/paulkrugman/status/1590702546322358277

@JD_co, I started a new discussion on October’s CPI #.
https://mutualfundobserver.com/discuss/discussion/60263/october-inflation-report-price-pressures-show-signs-of-cooling#latest
Thanks for the heads up news on CD rates that react quickly. Are you looking for something (non-callable) beyond 2-5 years?

Many follow here, TROW top % gainer in SP500 at +15%+.
https://stockcharts.com/h-sc/ui?s=TROW&p=D&b=5&g=0&id=p41192372971

The S&P500 was up 4% this morning. The 2 yr and 10 yr treasury yields also dropped that move that the broader bond index upward. It is encouraging to all investors.

Consumer prices rose 7.7 percent in the year through October, slower than economists anticipated. Stocks jumped at the sign that the Federal Reserve’s campaign to tame inflation was taking effect.

September’s CPI was at 8.2%. The probability of a smaller rate hike, 50 bps, is likely in December FOMC meeting. Also lay-offs among large companies are taken place as business slows, that reduces the upward pressure on labor cost (service cost) and inflation.
https://nytimes.com/live/2022/11/10/business/inflation-cpi-report

For the week ending on 11/9/22, a big shift for the worse: Bearish became the top sentiment (47.0%; very high) & bullish remained the bottom sentiment (25.1%; low); neutral became the middle sentiment (27.9%; below average); Bull-Bear Spread was -22.1% (very low). Investor concerns: Inflation; supply-chain disruptions; recession; the Fed; dollar; crypto-crash (FTX collapse); US election outcome; market volatility (VIX, VXN, MOVE); Russia-Ukraine war (37+ weeks); geopolitical. For the Survey week (Thursday-Wednesday), stocks were mixed (cyclicals up, growth down), bonds down, oil down sharply, gold up strongly, dollar down. #AAII #Sentiment #Markets
https://ybbpersonalfinance.proboards.com/thread/141/aaii-sentiment-survey-weekly?page=8&scrollTo=831

It is surprising that in this day and age, what happened could happen. Binance and FTX had a spat. CZ/Binance attacked SBF/FTX, threatened to liquidate holdings of FTX token FTT, caused a crisis of confidence in FTX and sort of a run on FTX. Then Binance rescued FTX for a song ($1 + liabilities) with the contingency of due diligence - who knows if that turns out to be a Musk-ian trap to try to wiggle out of the deal later.
Coinbase/COIN CEO Bryan Armstrong had a long tweet explaining why its operations are different from those of Binance or FTX.
https://twitter.com/brian_armstrong/status/1590088673726717952
But then, those who relied on what SBF/FTX and CZ/Binance said just a few days ago got burned.

This used to make me laugh. No more. It is dreadfully true.
https://www.forbes.com/quotes/3725/

Rates and the inflation rate probably depend on 1) the unemployment rate ( which probably will not drop as much as expected in a recession, with 3 million long Covid people unable to work), 2) Economic activity if there is a serious more than two quarter recession/depression and 3) Price of Energy and raw materials , artificially inflated by war and politics
I fear 1) and 3) are really unknowns and could make inflation stay far higher than it otherwise might with weakening economic activity, similar to the late 1970s early 1980s
There are so many moving parts. Interest payments on federal debt have increased 25% in less than a year. Does the Gov borrow more money just to pay the interest if rates stay high? Cut benefits including SS to the non-college educated ( even if they vote Trump) ?
What happens when the GOP refuses to increase debt ceiling? Will foreigners stop buying treasuries to fund all this stuff, even if USA is the "cleanest of a lot of dirty shirts" ( if judeged by GDP/debt ratios) ?
In the past, the world knew we were good for the money, as taxes could ( and can be raised, especially since they "sunset" anyway in what ? 2025). If the tea party/Trumpers are in control will they go along, or will we have the mother of all fights with people like Rick Scott apparently willing to "defund" the entire US Government.
What would that do to interest rates on Treasuries, regardless of the inflation rate?
A rational mind would not propose "Sunsetting" the entire US Government or making Medicare and Social security "discretionary".

For me, a question that will become very relevant in 2023, is a prediction of where CD rates will settle at. If we do not experience a major, or prolonged recession, I am guessing they will settle somewhat higher, than where they are at the end of 2022--maybe around 5% to 6% for shorter term rates. After that, the question will arise as to the attractiveness of CDs on a longer term investing option, than various categories of bonds and equities. At least for a significant percentage of retired investors, CDs may take away a large amount of money, that use to go into various categories of bond and equities, because CDs were too low to produce meaningul income. When all the dust starts settling, I suspect we will have a much different set of market conditions than what we have had over the last 15 to 20 years, with low to zero interest rates, and tons of government spending. Of course, if we go into a major recession, it seems likely that the government will have to lower interest rates, and it is hard to guess where that might settle.