Treasury Selloff Lifts 2-Year Yield 21 Basis Points to 4.77%

A sharp rise in the U.S. 2-year Treasury yield and renewed support for larger Fed hikes put the interest-rate outlook back in focus for crypto markets as inflation ran above expectations. The yield briefly climbed 21 basis points to 4.77%, its largest one-day increase since market turmoil over President Donald Trump’s reciprocal tariff measures. The 2-year yield is more sensitive to expected Federal Reserve policy changes than longer-term Treasury yields. Fed Gov. Waller said he would support a one-time 50-basis-point increase if inflation continued to accelerate. After October’s consumer price data topped economists’ expectations, traders began factoring in the possibility of a larger Fed rate increase in December.

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