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imageNEW YORK: US Treasuries yields rose on Thursday to their highest levels in over a week as domestic and overseas data reduced jitters about a year-end slowdown in the global economy, paring safe-haven demand for low-risk government debt.

Benchmark yields were on track to rise for a third straight session above 2.50 percent as the US Labor Department said continued jobless claims fell to 2.35 million in the week ended Oct. 11, which was the lowest since December 2000.

The ongoing decline in Americans receiving unemployment benefits signaled some of them might have returned to work and that the labor market is firming.

Earlier, private gauges on business activities in Europe and China showed modest improvement in early October, but analysts said the figures did not signal those economies were poised for significant rebounds.

"There has been an ease of fear. We are in a slow-growing economy. We are plugging along," said Ellis Phifer, senior market analyst at Raymond James in Memphis.

Benchmark 10-year Treasuries notes were 8/32 lower in price to yield 2.261 percent, up 3 basis points from late on Wednesday.

The 10-year yield has risen some 40 basis points since dropping to a 16-month low of 1.865 percent last Wednesday in volatile trading, as anxiety about global growth triggered a stampede of Treasuries buying to exit short bets against them.

The 30-year Treasury bond traded 15/32 lower for a yield of 3.026 percent, up 2.5 basis points from Wednesday.

At 1 p.m. (1700 GMT), the Treasury Department will add $7 billion to an existing 30-year Treasury Inflation-Protected Security it originally issued in February.

In the "when-issued" market, traders expect the additional 30-year TIPS supply to sell at a yield of 0.974 percent, lower than a yield of 1.116 percent at a reopening in June.

This 30-year TIPS fetched a yield of 1.495 percent in February.

Copyright Reuters, 2014

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