FXStreet (Mumbai) - The short-term interest rate sensitive two-year treasury yield eyes 1% level as the Fed is widely expected to raise rates later today. The yield currently trades around 0.98%. The market expects the Fed to raise rates by 25 basis points and thus markets could push up the yields to 1% ahead or after the liftoff is announced. Meanwhile, the 10-yr treasury yield currently trades one basis points at 2.276%. The 30-yr yield also trades one basis points at 2.996%. The CME fed funds futures data shows the probability of the 25bps move today stands at 81.4%. For more information, read our latest forex news.