Treasury yields were rising on Thursday, with the 10-year note once again above the 4.60% level, as investors waited for weekly jobless claims and ahead of another auction.

Yield moves

-- The yield on the 2-year Treasury note rose 1 basis point to 4.361%, up from 4.330% on Tuesday.

-- The yield on the 10-year Treasury note rose 3 basis points to 4.628%, from 4.606% on Tuesday, when it touched the highest intraday level since late May.

-- The yield on the 30-year Treasury bond gained 4 basis points to 4.805% from 4.797% on Tuesday, when it touched the highest intraday level since late April.

What's driving the market

Investors are returning to action in the U.S. on Thursday after markets were closed Wednesday for the Christmas Day holiday and a shortened session on Tuesday.

An auction of $44 billion in 7-year Treasury notes is ahead for Thursday, after $70 billion in 5-year notes on Tuesday was apparently met with solid demand.

The only data point for Thursday are weekly jobless claims, due at 8:30 a.m. Eastern.

-Barbara Kollmeyer

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