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Treasury Five-Year Yield Tops 1.50%, Highest Since January 2020

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The U.S. five-year note’s yield rose to the highest level since January 2020, after mixed December employment data reinforced expectations for at least three Federal Reserve rate hikes this year.

The yields rose more than 4 basis points to 1.5135%, extending its increase this week to 24 basis points, on track for its biggest weekly increase since September 2019. The difference between five-year and 30-year bond yields narrowed below 60 basis points for the first time since mid-December.