Yields on 1-year through 30-year Treasurys jumped Wednesday afternoon as traders assessed comments from Federal Reserve Gov. Christopher Waller, which were interpreted as being hawkish. The 1-year rate led the advance, jumping 8 basis points to 5.15%, though the policy-sensitive 2-year rate was up only 1 basis point, at 4.357%. Waller said he would back more rate hikes unless the Fed sees further progress on inflation, and that policy makers need to maintain flexibility between now and their June meeting on the best decision to take. With Waller seen as talking about higher rates for longer, Treasury supply also weighed on the market as traders positioned for the long Memorial Day weekend, said Larry Milstein, senior managing director of government-debt trading at R.W. Pressprich & Co.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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