Two-year Treasury yield pops above 4% after U.S. GDP report, weekly jobless claims

Treasury yields rose on Thursday, led by the policy-sensitive 2-year rate, after a raft of U.S. data had traders pricing in a greater chance of interest rate hikes by the Federal Reserve next week and in June.

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Data released on Thursday showed that U.S. first-quarter GDP advanced at a lackluster 1.1% pace amid declining business investment. That was less than the 2% increase that Wall Street analysts had forecast for gross domestic product, the official scorecard for the…