Treasuries dropped on Thursday, with the yield on the ten-year note rising to 4.244 percent. The weakness came after a thirty-year bond auction revealed below average demand, with a bid-to-cover ratio of 2.27. Earlier auctions of three-year and ten-year notes also saw lower demand. In economic news, first-time jobless claims rose to 226,000, higher than expected, while labor productivity rebounded significantly in the second quarter.

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