0905 ET - Treasury yields edge higher and the curve flattens as markets price in a more hawkish Fed. Wednesday's hike boosts confidence in the Fed's commitment to fighting inflation. That makes shorter-term yields rise faster than long-term ones. The 10-year yield is at 4.973% and the two-year at 4.722%, both slightly higher than yesterday but below highs set earlier this week. The spread between the two benchmarks is on pace to settle at the narrowest level since March 2025.
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