U.S. Treasuries were higher approaching midday Thursday, mirroring the gains in equities, ahead of the government's planned auction of $23 billion of short-term debt.

The two-year note was recently up 1/32 to 99 19/32, yielding 3.21%. The five-year was gaining 3/32 to 95 19/32, yielding 4.51%, and the 10-year Treasury was climbing 7/32 to 98 23/32, yielding 5.17%. The 30-year bond was up 6/32 to 97 27/32, yielding 5.52%.

In economic news, the government's weekly initial jobless claims data, which can have some effect on notes and bonds, was scheduled for release this morning, but the report will instead be issued Friday.