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US Treasury yields tick higher after data releases, auction

U.S. government debt yields were slightly higher Thursday after data releases and a Treasury auction.

The yield on the benchmark 10-year Treasury note rose to 2.327 percent at 1:35 p.m. ET, while the yield on the 30-year Treasury bond was up at 2.803 percent. Bond yields move inversely to prices.

Earlier, the yield on the 2-year Treasury note hit a new high of 1.658 percent, its highest level since Oct. 2008 when the 2-year yielded as high as 1.716 percent.

U.S. Markets Overview: Treasurys chart

The number of Americans filing for unemployment benefits rose more than expected last week, according to the U.S. Labor Deparment.

Initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 239,000 for the week ended Nov. 4, suggesting that hurricane effects on claims processing has begun to improve, according to Reuters.

The Treasury Department auctioned $15 billion in 30-year bonds at a high yield of 2.801 percent.
The bid-to-cover ratio, an indicator of demand, was 2.23. Indirect bidders, which include major central banks, were awarded 61.8 percent. Direct bidders were awarded 6.4 percent.

U.S. President Donald Trump is continuing his journey across Asia. In China, the U.S. incumbent pressed Beijing on Thursday to do more when it comes to reining in North Korea.

Leaders from both countries also commented upon trade ties, and announced the signing of around $250 billion in commercial deals between U.S. and Chinese companies, according to Reuters.

CNBC's Gina Francolla contributed to this report.