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The two-year US Treasury yield climbed to 4.8920%, its highest level in a month, according to First Squawk. The move signals renewed pressure on the short end of the curve, where yields are most sensitive to Federal Reserve policy expectations. It matters because a rising two-year rate typically reflects traders pricing in a more hawkish rate path or stronger economic data. Watch upcoming Fed commentary and inflation prints for confirmation of whether the repricing extends or reverses.

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US Treasury, First Squawk