By Ben Eisen
NEW YORK (MarketWatch) -- Treasury prices traded lower Thursday after data showed the U.S. economy shrank for the first time since 2011. The number of people applying for unemployment benefits also dropped by 27,000 to 300,000, according to data released Thursday. After the reports, the 10-year Treasury note 10_YEAR +0.08% yield, which rises as prices fall, initially dropped and then recovered. It was last was up half a basis point at 2.441%, according to Tradeweb. The 30-year bond 30_YEAR +0.03% yield rose 1 basis point to 3.297%, while the 5-year note 5_YEAR +1.95% yield rose 1 basis point to 1.508%. Treasurys gained sharply on Wednesday, pushing the 10-year yield to an 11-month low.
