The 2-year Treasury note yield increased more than 7 basis points to 4.425% on Friday, reaching its highest level since January 2025. This surge followed a stronger-than-expected U.S. August jobs report, which showed the economy added 162,000 jobs, significantly above the 53,000 consensus estimate. Traders have increased their bets on a Fed rate hike at the September meeting, with the probability of a quarter percentage point increase rising to 58%.