CORRECTED-TREASURIES-Two-year yields near 13-month peak, 10-years eke higher - Reuters

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 (Corrects headline, first paragraph to remove reference to
hitting new 13-month peak in two-year yields)
    By David Randall
    NEW YORK, June 21 (Reuters) - Two-year Treasury yields edged
closer to their highest levels since March 2020 while
longer-dated bond yields inched higher Monday as investors
continued to digest the Federal Reserve's hawkish turn at its
policy meeting last week. 
    The Fed said Wednesday that most policymakers expect two
interest rate hikes in 2023. The prospect of those
sooner-than-expected moves have pushed short-term yields higher
while keeping longer-duration yields in check as market fears of
out-of-control inflation subside.
    "By bringing forward rate hikes, the Fed is providing a
material headwind not only for any inflation that might not
prove transitory but also growth as well. Needless to say, such
a hawkish pivot is likely to remain topical for weeks to come –
a reality further reinforced by the lack of meaningful economic
data over the next several sessions," said Ian Lyngen, head of
U.S. rates strategy at BMO Capital Markets. 
    Two-year yields rose to 0.2684%, while 10-year
yields edged higher to 1.4667%. 
    Bond yields rise as prices fall. 
    "It feels like the Fed’s modest moves last week basically
got them in line with where the street was already. The bond
markets seem to agree with that, as the yield on the U.S.
10-year ended the week below 1.5%," said Arthur Hogan, chief
market strategist at National Securities. 
    Investors will be watching for comments from St. Louis Fed
President James Bullard and New York Fed President John Williams
later in the day. 
    
    
                               Price        Current   Net
                                            Yield %   Change
                                                      (bps)
 Three-month bills             0.04         0.0406    0.000
 Six-month bills               0.055        0.0558    0.003
 Two-year note                 99-185/256   0.2684    0.010
 Three-year note               99-66/256    0.5012    0.021
 Five-year note                99-56/256    0.9121    0.026
 Seven-year note               100-8/256    1.2452    0.026
 10-year note                  101-100/256  1.4734    0.023
 20-year bond                  103-228/256  2.0117    0.035
 30-year bond                  106-188/256  2.0717    0.044
                                                      
   DOLLAR SWAP SPREADS                                
                               Last (bps)   Net       
                                            Change    
                                            (bps)     
 GooU.S. 2-year dollar swap      6.75         0.25    
 spread                                               
 U.S. 3-year dollar swap         7.25        -0.50    
 spread                                               
 U.S. 5-year dollar swap         4.50        -0.50    
 spread                                               
 U.S. 10-year dollar swap       -3.75         0.50    
 spread                                               
 U.S. 30-year dollar swap      -31.75        -0.75    
 spread (Reported by David Randall; editing by Jonathan Oatis)

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CORRECTED-TREASURIES-Two-year yields near 13-month peak, 10-years eke higher - Reuters
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