The 10-year Treasury yield is higher by seven basis points to 2.54% following the Fed rate hike and expectations for three boosts next year (up from two). That's the highest level since Sept. 2014.
That's a big move, but the real action is at the short end, where the two-year yield has moved up a whopping 10 basis points to 1.26%. As recently as the July 4 holiday, the two-year yield was about half of today's level.
We'd like to check Fed Funds futures to see what they're pricing in, but things are so busy at the CME, we can't get onto the website.
Previously: Fed now sees three rate hikes in 2017 (Dec. 14)
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