US April PPI +1.4% · 10-year 4.49% · Warsh confirmed Fed chair 54-45

BLS reported April PPI headline MoM +1.4%, largest jump since March 2022 and triple the consensus +0.5%. YoY surged 6.0%, highest since December 2022. Gasoline +15.6% reignited pipeline inflation. Ten-year Treasury briefly touched 4.49% before settling 4.481%, highest in 10 months since July 2025. Kevin Warsh cleared 54-45 narrowly same day; takes helm of first FOMC June 16-17.