Treasury yields jump further after jobless claims point to labor-market strength; 2-year rate up at almost 4.84%, 10-year yield at 3.82%

A selloff in U.S. government debt gathered momentum Thursday morning, after data showed jobless claims dropped to a two-month low of 228,000 last week. The advance in yields was led by the 3- to 7-year rates, which each rose 10 basis points, according to FactSet. The 2-year yield jumped to almost 4.84%, while the 10-year rate rose to 3.82%. Meanwhile, fed funds futures traders boosted the likelihood of a quarter-point, post-July rate hike by the Federal Reserve, to 30.5% by November — up from 25.3% a day ago.