(RTTNews) – Treasuries moved to the downside during trading on Wednesday, more than offsetting the modest strength seen in the previous session.
Bond prices climbed off their worst levels in afternoon trading but remained in negative territory. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, rose by 3.2 basis points to 0.677 percent.
The weakness among treasuries came following the release of some upbeat U.S. economic data, including a report from payroll processor ADP showing private sector employment surged up by more than expected in the month of September.
ADP said private sector employment spiked by 749,000 jobs in September after jumping by an upwardly revised 481,000 jobs in August.
Economists had expected employment to increase by 650,000 jobs compared to the addition of 428,000 jobs originally reported for the previous month.
The National Association of Realtors also released a report showing