NEW YORK (CNNMoney.com) -- Prices for U.S. Treasurys fell Thursday as investors flocked to more risky assets following upbeat reports on corporate earnings and a smaller-than-expected drop in home sales.
What prices are doing: The benchmark 10-year note was down 13/32 to 104-28/32 and its yield rose to 2.93% from 2.88% late Wednesday. Bond prices and yields move in opposite directions.
The 2-year note was little changed at 100-3/32 and its yield was 0.58%, while the 5-year note fell 5/32 to 100-30/32 with a yield of 1.68%.
The 30-year bond lost 20/32 to 107-27/32 and its yield was 3.93%.
What's moving the market: Demand for Treasurys waned as stocks rallied on strong quarterly results from blue-chip companies such as Caterpillar (CAT, Fortune 500), UPS (UPS, Fortune 500) and 3M (MMM, Fortune 500).
Treasurys are widely considered to be one of the most secure assets available. As a result, prices often fall when investors are optimistic about the economy and less concerned about safety.
But the retreat came despite mixed reports on the housing market, unemployment and an index of leading economic indicators.
The National Association of Realtors saidsales of existing homes fell 5.1% in June to an annual rate of 5.37 million units. However, the decline was smaller than expected. Existing home sales were forecast to fall to an annual rate of 5.09 million, according to consensus estimates from Breifing.com.
The Labor Department said 464,000 Americans filed for their first week of unemployment insurance last week, up 37,000 from the previous week. Economists were expecting the 445,000 initial claims.
The Conference Board, a New York-based research group, said its index of leading economic indicators declined 0.2% in June, following a 0.5% increase in May. Economists expected the index to have fallen 0.4%.
Meanwhile, Federal Reserve chairman Ben Bernanke returned to Capitol Hill for a second day of hearings on monetary policy.
The central bank chief testified Wednesday that economic conditions remain "unusually uncertain," but stopped short of revealing what the Fed might do to sustain the shaky U.S. recovery. 
| Overnight Avg Rate | Latest | Change | Last Week |
|---|---|---|---|
| 30 yr fixed | 3.80% | 3.88% | |
| 15 yr fixed | 3.20% | 3.23% | |
| 5/1 ARM | 3.84% | 3.88% | |
| 30 yr refi | 3.82% | 3.93% | |
| 15 yr refi | 3.20% | 3.23% |
Today's featured rates:
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 32,627.97 | -234.33 | -0.71% |
| Nasdaq | 13,215.24 | 99.07 | 0.76% |
| S&P 500 | 3,913.10 | -2.36 | -0.06% |
| Treasuries | 1.73 | 0.00 | 0.12% |
| Company | Price | Change | % Change |
|---|---|---|---|
| Ford Motor Co | 8.29 | 0.05 | 0.61% |
| Advanced Micro Devic... | 54.59 | 0.70 | 1.30% |
| Cisco Systems Inc | 47.49 | -2.44 | -4.89% |
| General Electric Co | 13.00 | -0.16 | -1.22% |
| Kraft Heinz Co | 27.84 | -2.20 | -7.32% |
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