Short-term Treasury yields at 5 1/2-year high after Fed's monumental rate hike

Short-term Treasury yields reached their highest levels in 5 1/2 years Wednesday afternoon, after the Federal Reserve raised interest rates for the first time in more than nine years. The Fed raised key fed-funds rates by a quarter of a percentage point, an increase that was largely expected by investors. Yields spiked after the announcement but quickly reversed course to trade slightly higher on the day. The yield on the two-year Treasury note was up 0.8 basis point to 0.976%, its highest level since May 2010. The benchmark 10-year yield gained one basis point to 2.278% and the 30-year yield ......(read more)

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