The sell-off of U.S. Government debt gained momentum on Thursday morning after data revealed that claims for unemployment benefits dropped to a two month low last week. FactSet reports that the rates for 3- to 7 year bonds rose by 10 basis points each. The 10-year rate climbed to 3.82%, while the 2-year rate jumped to nearly 4.84%. Fed funds futures traders increased the probability of a quarter point rate hike from the Federal Reserve after July to 30,5% by November, up from 25,3% the day before.