The yields on Treasurys from 1-year to 30-years increased Wednesday afternoon, as traders assessed remarks by Federal Reserve Governor. Christopher Waller’s comments were interpreted by some as hawkish. The 1-year rate jumped 8 basis points, to 5.15%. However, the policy-sensitive two-year rate only increased by 1 basis point at 4.357%. Waller stated that he would support more rate increases unless the Fed saw further progress on inflation. He also said policymakers need to remain flexible between now and the June meeting to determine the best course of action. As traders prepared for the long Memorial Day Weekend, Waller’s comments about higher interest rates lasting longer weighed on the markets. Larry Milstein is the senior managing director for government debt trading at R.W. Pressprich & Co.