Treasury yields rose a second day amid increasing conviction that the Federal Reserve will raise rates at least three times beginning in May.
Long-maturity yields rose the most, which traders attributed to a second day of heavy supply of new corporate bonds following a three-week lull at the end of last year. The five-year note’s yield climbed as much as 4 basis points to 1.395%, the highest since Feb. 20, 2020, but ended the day higher by less than a basis point.
