U.S. 2-year Treasury yield jumps to highest level since July 2024

The U.S. 2-year Treasury yield has climbed to 4.76%, its highest level since July 2024.
The front end of the Treasury curve is particularly sensitive to expectations for Federal Reserve policy, making the move an important signal of tighter rate expectations and higher short-term borrowing costs.
Because bond prices move inversely to yields, the sharp increase represents renewed pressure on short-duration Treasury prices.