treasurys sold off again on wednesday just ahead of the thanksgiving day holiday with the benchmark 10year rate briefly touching almost 170 as investors digested a slew of us data what are yields doing   the 10year treasury note yield tmubmusd10y rose to 1679 compared with 1665 at 3 pm eastern time on tuesday it briefly touched 1697 and is still around the highest level since late october   the 2year treasury note tmubmusd02y rate was at 0637 versus 0606 on tuesday which put the yield around its highest since march 2020   the 30year treasury bond tmubmusd30y yield was marginally lower at 202 versus 2022 on tuesday afternoon data released wednesday showed that us weekly jobless claims fell to their lowest level since november 1969 new filings for jobless benefits plunged by 71000 to 199000 in the seven days ended nov 20 economists polled by the wall street journal had estimated initial jobless claims would total a seasonally adjusted 260000  the report was released one day early because of the holiday on thursday meanwhile other data showed that the us economy grew at a revised 21 annual rate in the third quarter consumer spending and private inventory investment mostly accounted for the upward revision from 20 the commerce department said wednesday us durablegoods orders fell 05 in october to mark the second decline in a row the decline stemmed entirely from fewer orders for passenger planes an upanddown category that often distorts the level of underlying demand in the economy meanwhile us manufacturers such as general motors and whirlpool had plenty of orders signaling the economy is getting stronger treasury yields have been rising on bets that federal reserve chairman jerome powell who is being renominated to a second term by president joe biden has a new mandate to accelerate the pace of the fed’s reduction of monthly asset purchases with an eye toward curbing a surge in inflation and eventually lifting interest rates in an interview with yahoo finance san francisco fed president mary daly said on wednesday that a case can be made for speeding up the central bank’s “tapering” of bond purchases in december  this week’s selloff in bonds which has led to rising yields has been amplified by seasonally lower volumes analysts say noting that the days before us thanksgiving tends to be comparatively thinly traded  as of tuesday markets were pricing in more monetary tightening from the federal reserve the bank of england and the european central bank according to tradeweb   meanwhile the 2year treasury note yield the most sensitive to changing interestrate expectations is hanging around its highest level since march of 2020 what analysts are saying referring to the initial jobless claims report jpmorgan chase  co’s daniel silver wrote that “the claims series can be noisy and especially choppy around holidays like thanksgiving when the seasonal factors anticipate large swings in the underlying data” even so “today’s report clearly was a favorable surprise and we think that the labor market is continuing to recover over time”