2-year Treasury yield rises to nearly 2.72%, adding to its highest level since December 2018

The 2-year Treasury yield TMUBMUSD02Y, 2.721% advanced two basis points to almost 2.72% on Friday, incrementally climbing to another fresh high last seen in December of 2018, according to FactSet data as of 3 p.m. Eastern time. The rate climbed around 28 basis points for the week as traders began to price in the likely start of more aggressive rate hikes from the Federal Reserve. Meanwhile, the 10-year yield TMUBMUSD10Y, 2.895% fell two basis points to just under 2.9%, shrinking the spread with the 2-year to 19 basis points.