NEW YORK (CNNMoney.com) -- Longer-dated Treasury prices turned lower Thursday, with the 30-year yield spiking to a one-month high, as investors took in a better-than-expected report on jobless claims and prepared an auction of government debt later in the day.
What prices are doing: The benchmark 10-year note was flat at 104-11/32, with a 2.99% yield. Meanwhile, the 30-year bond sank 4/32 to 105-6/32 and its yield rose to 4.07%. Earlier in the day, it spiked to 4.13%, the highest since June 25.
Bond prices and yields move in opposite directions.
The 2-year note rose 1/32 to 100-3/32 and yielded 0.59%, while the 5-year note edged up 9/32 to 100-12/32 with a yield of 1.68%.
What's moving the market: Demand for the safety of government debt eased as a modest drop in jobless claims and strong corporate results renewed some optimism among investors, who pushed stocks higher.
A weekly government report showed that initial claims fell by 11,000 in the latest week to 464,000.
Treasury prices also dropped as traders braced for a $29 billion auction of 7-year notes, which will conclude the week's $104 billion debt offering. 
| Overnight Avg Rate | Latest | Change | Last Week |
|---|---|---|---|
| 30 yr fixed | 3.89% | 3.88% | |
| 15 yr fixed | 3.21% | 3.21% | |
| 5/1 ARM | 2.87% | 2.88% | |
| 30 yr refi | 3.96% | 3.96% | |
| 15 yr refi | 3.30% | 3.29% |
Today's featured rates:
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 12,801.23 | -89.23 | -0.69% |
| Nasdaq | 2,903.88 | -23.35 | -0.80% |
| S&P 500 | 1,342.64 | -9.31 | -0.69% |
| Treasuries | 1.97 | -0.08 | -3.81% |
| Company | Price | Change | % Change |
|---|---|---|---|
| Bank of America Corp... | 8.07 | -0.11 | -1.34% |
| Cisco Systems Inc | 19.90 | -0.10 | -0.52% |
| Ford Motor Co | 12.44 | -0.25 | -1.97% |
| General Electric Co | 18.88 | -0.26 | -1.33% |
| Microsoft Corp | 30.50 | -0.16 | -0.54% |
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