Summary Box: Yield on 10-year note rises to 2.76 percent; Fed buys $1.38 billion in Treasurys

Summary Box: Economic data lifts long-term rates

ENCOURAGING SIGNS: The government reported a drop in first-time unemployment claims and a rise in wholesale prices. These and other economic reports have eased fears of a deeper recession.

NO FEAR TRADE: Treasury yields have plummeted since the spring as banks and investors stashed money in safe Treasurys. Recent signs of economic growth have had the opposite effect, pushing yields up.

TIME SENSITIVE: Most shorter-dated bonds held their ground while bonds maturing in 5 to 30 years slipped. The 10-year note dropped, raising the yield to 2.76 percent.