9/20, 8:31 PM (Source: TeleTrader)
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Two-year US Treasury yield highest since 2006

The yield on the two-year United States Treasury note reached its highest point since 2006 on Wednesday after the Federal Reserve hinted at an additional interest rate increase by the year-end following its decision to hold the rates at the 22-year high during the September meeting.

The policymakers expect the federal funds rate to stand at 5.1% next year, which is higher than projected back in June. The Federal Reserve also revised its estimates for rate cuts next year, predicting fewer than initially planned.

The yield on the two-year note climbed 11.0 basis points to 5.1200% at 2:29 pm ET.

Baha Breaking News (BBN) / AB