U.S. Treasury Selloff Pushes Two-Year Yield to 4.77% as Fed Bets Shift

A sharp rise in U.S. Treasury yields pressured risk assets, including crypto, Tuesday as hotter-than-expected inflation and hawkish Federal Reserve comments revived bets on a larger December rate increase. The two-year Treasury yield, which is more sensitive to expected Fed policy than longer-term debt, briefly climbed 21 basis points to 4.77%. It was the yield’s biggest daily increase since Trump’s reciprocal tariff actions rattled global markets. U.S. consumer prices rose more than economists expected in October. Fed governor Waller said he would support a 50-basis-point increase at one meeting if inflation continued to accelerate. Dallas Fed President Logan said at least two more 25-basis-point increases were needed and the central bank might have to speed up its pace.

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