Treasury yields fall ahead of job openings data
- The U.S. Labor Department is due to release the July Job Openings and Labor Turnover Survey at 10 a.m. ET on Wednesday.
- The September IBD/TIPP Economic Optimism index is due out at 10 a.m. ET on Wednesday.
U.S. Treasury yields fell early on Wednesday, ahead of the release of job openings data.
The yield on the benchmark 10-year Treasury note fell nearly 2 basis points to 1.353% at 3:50 a.m. ET. The yield on the 30-year Treasury bond gave up 2 basis points, falling to 1.965%. Yields move inversely to prices and 1 basis point is equal to 0.01%.
Treasury yields dipped after concerns about the outlook for economic growth hit stock markets on Tuesday, with the Dow Jones Industrial Average falling more than 200 points.
The U.S. Labor Department is due to release the July Job Openings and Labor Turnover Survey at 10 a.m. ET on Wednesday. This comes after Friday's disappointing jobs report, with nonfarm payrolls increasing by 235,000 in August versus a forecast of 720,000 new jobs.
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The Federal Reserve is monitoring jobs data as one factor to decide when it will tighten monetary policy.
The Fed is set to publish its periodic "Beige Book" survey of activity across its 12 districts on Wednesday.
In addition, the September IBD/TIPP Economic Optimism index is due out at 10 a.m. ET on Wednesday.
Auctions are scheduled to be held on Wednesday for $30 billion of 119-day bills and $38 billion of 10-year notes.
— CNBC's Yun Li contributed to this report.
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