| Treasuries moved to the upside in reaction to the private sector jobs data. As a result, the yield on the benchmark ten-year note which moves opposite of its price, fell 2.9 bps to 4.05%.
U.S. Treasury yields ticked lower on Wednesday on the latest signs of a weaker jobs market as shown in private payroll data, reinforcing a conviction that the Federal Reserve will lower interest rates another quarter percentage point at its final meeting of the year next week.
The benchmark 10-year Treasury yield fell more than 2 bps to 4.05% while the 30-year Treasury yield fell less than 2 bps to 4.72%. The 2-year Treasury yield, the security most sensitive to moves in short-term policy, fell 3 bps to 3.486%.
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