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Treasury yields inch higher along with stocks

U.S. Treasury yields inched up on Wednesday after the government reported that the economy grew faster in the spring than first thought.

The yield on the 10-year Treasury note edged up to 1.66 percent from 1.64 percent late Tuesday.

Rising yields can be a sign that investors are feeling more confident about the economy, because the government has to pay more to get investors to choose bonds over riskier stocks.

The price, which moves inversely to the yield, fell 15.6 cents for every $100 invested.

It was an unusually quiet day on Wall Street. Stocks nosed higher after the government reported that the economy grew at 1.7 percent in the spring, better than the previous estimate of 1.5 percent.

Trading was slow, with many investors still on vacation and not much major news to influence any of the markets.

The 30-year bond followed a similar pattern. The yield edged up to 2.77 percent from 2.75 percent. The price fell 37.5 cents for every $100 invested.

In other trading, the yield on the two-year note rose to 0.28 percent from 0.26 percent. The yield on the five-year note rose to 0.69 percent from 0.67 percent. The yield on the three-month note held at 0.10 percent.

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