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Treasury's benchmark yield stays at 5-month highs

NEW YORK (AP) -- U.S. Treasury yields are holding at five-month-high levels.

Prices were relatively flat Thursday on signs that the U.S. economy continues to improve. The government said applications for unemployment benefits fell last week to 351,000, matching a four-year low.

The benchmark 10-year Treasury note was up 3 cents for every $100 invested. Its yield remained flat at 2.27 percent at the close of trading on Thursday. That was the highest yield since Oct. 28.

Yields have been rising steadily in the past couple of on signs of a rebounding economy. That doesn't bode well for the real estate market, as mortgage rates take their cues from the 10-year Treasury note and yields might come off the historic lows of recent months.

In other trading, prices of the 30-year bond fell 3 cents for every $100 invested. Its yield also remained flat at 3.41 percent.

The yield on the two-year note fell to 0.37 percent from 0.40 percent. The three-month T-bill paid a yield of 0.08 percent, unchanged from late Wednesday.