Two-year yields US2YT=RR, which track near-term rate expectations, rose to a 22-month high of 0.87% and were last up three basis points on the day. Minutes of the Fed's December meeting, published on Wednesday, hinted the U.S. central bank might raise rates as early as March. Some participants also thought it could be appropriate to start reeling in the size of the central bank's balance sheet - underscoring a big shift in policymakers' tone over recent months as inflation has remained unexpectedly hot.