U.S. government debt prices erased slight gains on Thursday as investors parsed through key economic data.
Initial jobless claims fell by 3,000 to 258,000. Meanwhile, the final read on fourth-quarter GDP showed growth of 2.1 percent, above a preliminary read of 1.9 percent.
The yield on the benchmark 10-year Treasury note was higher at around 2.42 percent, while the yield on the 30-year Treasury bond was also higher at 3.032 percent. Yields move inversely to prices.
Boston Fed President Eric Rosengren — a nonvoting member of the central bank's policymaking committee — said Wednesday he believes four rate hikes this year are appropriate. Officials had indicated that two more hikes were probable after lifting the rate in March.
However, Chicago Fed President Charles Evans — a voting member — said he supports one or two more rate hikes this year.
In oil markets, Brent crude traded at around $52.94 a barrel on Thursday, up 0.99 percent, while U.S. crude was around $50.33 a barrel, up 1.66 percent.
— CNBC's Jeff Cox contributed to this article