US Treasury Yields Push to New Highs as Fed Looks Set to Hike Rates

Sheets of former U.S. President Abraham Lincoln on the five-dollar bill currency are seen through a magnifying glass at the Bureau of Engraving and Printing in Wash., on March 26, 2015. Gary Cameron/Reuters

LONDON—U.S. five and 10-year Treasury yields rose to their highest levels in almost three years on Tuesday, ahead of a widely-anticipated rate hike from the Federal Reserve.

Five-year Treasury yields rose to as high as 2.149 percent, their highest since May 2019, while 10-year yields rose to 2.204 percent and were last up 2 bps on the day.