U.S. Treasury yields across the entire curve are pushing to new highs as traders prepare for a longer stretch of tighter monetary policy. CME FedWatch puts the 4.75% to 5% federal funds range as the likely outcome for June 2027. That would mean four quarter-point hikes from today’s 3.75% to 4% range. Meanwhile, the Federal Reserve has already raised the fed funds rate by 25 bps this month.