Traders are still expecting two to three rate hikes this year after Fed statement

The Federal Reserve likely remains on track to raise interest rates at least two times this year.

10-year Treasury yield briefly rose to around 2.75 percent following the release of the Fed statement and remained around its highest in nearly eight years. The two-year yield initially traded near 2.16 percent, around its highest in almost a decade, before edging down to 2.14 percent.

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