U.S. Treasury yields fell early on Wednesday, with investor attention turning to ADP’s latest employment report, due out later in the morning.
The yield on the benchmark 10-year Treasury note dipped 2 basis points lower to 1.7769% at 3:45 a.m. ET. The yield on the 30-year Treasury bond moved 2 basis points lower to 2.0988%. Yields move inversely to prices and 1 basis point is equal to 0.01%.
Private payroll services firm ADP is set to release its January employment change report at 8:15 a.m. ET.
Economists polled by Dow Jones are expecting 200,000 private jobs were added in January, down from December’s growth of 807,000 private payrolls, according to ADP.
According to data released by the U.S. Labor Department on Tuesday, job openings totaled nearly 11 million in December, more than 4.6 million above the total unemployment level. Meanwhile, the so-called “quits” level declined in December, indicating a slowdown in what has become known as the Great Resignation.
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More key jobs data is due to be released over the next couple of days, with the number of jobless claims filed last week set to come out on Thursday, followed by the highly anticipated non-farm payrolls report on Friday.
An auction is scheduled to be held on Wednesday for $40 billion of 119-day bills.
— CNBC’s Maggie Fitzgerald and Jeff Cox contributed to this market report.