Treasury yields shot higher early Thursday after revised U.S. GDP figures showed the economy grew at an annualized pace of 2% during the first quarter, significantly better than the previous reading of 1.3%. Yields shot higher, with the short end of the curve seeing the biggest move. The yield on the 2-year Treasury note
TMUBMUSD02Y,
hit its highest level since March 8, according to FactSet data, rising 16 basis points to 4.882%. The yield on the 10-year Treasury
TMUBMUSD10Y,
rose nine basis points to 3.802%, its highest level since mid-June. Rising yields helped drag the U.S. dollar higher, with the ICE U.S. Dollar Index
DXY,
a gauge of the buck’s strength against a basket of rivals, gaining 0.2% to 103.1.