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Bond Report: 2-year Treasury yield highest in five weeks on tax reform hopes

U.S. Treasurys picked up where they had left off, pushing yields higher Wednesday as investors continued to rotate out of government paper and other assets perceived as less risky, while traders looked ahead to consumer price data.

Some analysts are betting that a recent bipartisan effort to lift the debt ceiling suggests that President Donald Trump has grown more willing to reach across the aisle to get pro-business policies, including tax reform, enacted. Late Tuesday, Trump had dinner with three Democratic senators who were reportedly open to the idea of tax reform.

But other market participants suggested they weren’t holding their breath, with Trump having yet to achieve any of his major priorities since his inauguration.

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