Treasury Yields Rise Most in 3 Weeks After Hiring Report
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Treasury 10-year note yields rose the most in three weeks after ADP Research Institute said companies added more jobs than forecast last month, spurring bets U.S. nonfarm labor data will show stronger hiring.
U.S. government securities fell for a third day as the Federal Reserve’s Beige Book business survey said the economy expanded at a modest to moderate pace across most of the country. Fed Chairman Ben S. Bernanke and Vice Chairman Janet Yellen both said over the past two weeks the central bank should maintain stimulus efforts. The central bank bought $1.46 billion of Treasuries today in a program to support the economy.