2-year Treasury yield jumps to highest in a week ahead of Fed meeting

Treasury yields finished higher on Monday ahead of a Federal Reserve meeting this week that’s expected to bring another quarter-point hike and send interest rates above 5%.

What yields did

Market drivers

The Federal Reserve will conclude a two-day policy meeting on Wednesday that’s widely expected to see policy makers lift the fed-funds rate by 25 basis points, or a quarter of a percentage point, to a range of 5% to 5.25%. Fed-funds futures show traders have priced in an 89% chance of such a move, versus an…