Bond yields rise, 2-year Treasury tops 3.85% on higher Fed rate hike expectations

Short-term U.S. Treasury yields continued to rise Thursday as investors weighed the prospect of larger rate hikes from the Federal Reserve at its next meeting next week. The yield on the 2-year Treasury, which is among those most affected by Fed decisions, rose 8 basis points to 3.865%, after its highest level since 2007. Meanwhile, the 10-year bond yield was up more than 5 basis points at 3.463%. The 30-year Treasurys bond bond was trading up about 2 basis points.

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