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2-year Treasury yield hits more than 3-week high as Fed lifts rates

Treasury yields rose Wednesday after the Federal Reserve raised its key interest rate and dropped language that rates would remain below its long-term rate in its June policy statement. The two-year note yield (XTUP:TMUBMUSD02Y=X), sensitive to shifting expectations for Fed policy, climbed 3.9 basis point to 2.578%, the highest since May 16. The 10-year Treasury note yield (XTUP:TMUBMUSD10Y=X) picked up two basis points to 2.979%, while the 30-year bond yield (XTUP:TMUBMUSD30Y=X) was up by a basis point to 3.103%.