0901 ET - Treasury yields fall on lower-than-expected U.S. inflation, reducing odds of a Fed hike in October. August 12-month PCE inflation slows to 3.4%, versus WSJ consensus of a repeat of July's 3.7% pace. The surprise overrides stronger-than-expected jobs and activity data. ADP shows private-sector job creation accelerating in September, while 2Q GDP third estimate rises to 2.2% from 1.5%, both beating forecast. The Fed is now more likely to hold than hike in October, according to LSEG. The 10-year yield falls to 5.203% from 5.234% on the data, before bouncing back to previous levels. The two-year is at 4.845%, down from 4.881% before the data.