2-year Treasury yield jumps to 4.75%, leads rates higher after Fed’s Barkin supports more hikes

The policy-sensitive 2-year Treasury yield jumped roughly 10 basis points to 4.75% after Richmond Fed President Tom Barkin said he would be willing to support more rate hikes until inflation slows further. The 2-year rate led a rise in yields across the curve Friday morning. Since Wednesday’s policy announcement by the Fed, which included projections for two more rate hikes by year-end, investors and traders had been brushing aside that guidance, with the expectation that policy makers would likely hike only once more this year.