Not really. The backlog is sorted by rank rather than priority, to allow you to do dynamic ranking.
There is a request out there somewhere to allow the backlog to be broken up into sections (i.e. rank within blocks of priority), but in real life, that's not really going to work because it means mass ranking of things based purely on priority, and it breaks planning because you ranking should let you put allegedly lower prioirity above higher (just because it's a priority doesn't mean you don't have dependencies with lower priorities, or that you can't get smaller items into a sprint)
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