Traders work on the floor at the New York Stock Exchange. Brendan McDermid | Reuters Treasury yields rose Wednesday as investors digested the implications of hotter-than-expected wholesale prices in April. The yield on the 10-year U.S. Treasury note — the key benchmark for U.S. government borrowing — was last up more than 1 basis point at 4.487%. It had risen as much as 3 basis points to hit a high of 4.49%, reaching its highest level since July 17. The 2-year Treasury note yield, which more closely tracks short-term Federal Reserve interest rate policy, was less than 1 basis point higher at 4.002%. The longer-dated 30-year Treasury bond yield was up more than 1 basis point at 5.046%. It had earlier advanced 2 basis points to 5.05%, its highest level since July 17. One basis point is equal to 0.01%, and yields and prices move in opposite directions.…