December 14, 2016 / 7:23 PM / 8 months ago

U.S. shorter-dated yields hit multi-year highs after FOMC raises rate projections

Dec 14 (Reuters) - Shorter-dated U.S. Treasury yields rose to their highest in more than five years after the release of the Federal Open Market Committee's rate decision and statement on Wednesday in which the Fed announced a 0.25 percentage point increase to U.S. overnight interest rates.

Yields on two-year Treasury notes rose to their highest since August 2009, while three-year yields hit their highest since May 2010 and five-year yields rose to their highest since May 2011.

The FOMC also said it was expecting to raise rates three times in 2017, an increase from the Federal Reserve's November meeting at which the committee said it foresaw two increases. (Reporting by Dion Rabouin; Editing by James Dalgleish)

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