“The market has a risk-on tone with stocks up and Treasuries taking a hit as the better data this week has led people to the conclusion that the labor market is doing better,” Larry Milstein, managing director at R.W. Pressprich & Co, said in the Bloomberg article. “The Fed has reiterated the view that they remain strongly data-dependent, and if that’s the case, better data will means tapering sooner than later.”

Given the modest pace in the economic recovery, though, the Federal Reserve reaffirmed its “highly accommodative stance” Wednesday. [Accommodative Fed Measures to Support Stock Market, ETFs]

Meanwhile, inverse Treasury bond ETFs moved higher on the weakening in Treasuries. The ProShares UltraShort 20+ Year Treasury ETF (NYSEArca: TBT) gained 3.3% Thursday and the Daily 20+ Year Treasury Bear 3X Shares (NYSEArca: TMV) rose 5.1%. [Inverse Treasury ETFs Capitalize on Rising Interest Rates]

iShares Barclays 20+ Year Treasury Bond ETF

For more information on Treasuries, visit our Treasury bonds category.

Max Chen contributed to this article.