U.S. government debt prices fell sharply Thursday as investors eyed a slew of economic data, while oil prices kept climbing.
Earlier, the European Central Bank will extend its bond purchases beyond March and may send a signal on the eventual end of asset buying, Reuters reported citing senior sources with direct knowledge of discussions.
U.S. Treasury yields took another leg higher, following the 10-year German bund yield which last traded near 0.368 percent.
The yield on the 5-year Treasury note hit a high of 1.935 percent, its highest level since May 2011. The benchmark 10-year note yield hit a high of 2.492 percent, while the 30-year bond yield hit a high of 3.156 percent, their highest levels since June and July 2015, respectively.