Treasuries moved higher during trading on Wednesday, extending the upward trend seen over the past several sessions. <\/p>\n
Bond prices moved to the upside over the course of morning trading and managed to remain firmly positive. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 5 basis points to 3.287 percent.<\/p>\n
The ten-year yield extended its losing streak to five sessions, falling to its lowest closing level in almost seven months.<\/p>\n
Treasuries continued to benefit from their appeal as a safe haven amid concerns about the economic outlook following the release of some disappointing data.<\/p>\n
Payroll processor ADP released a report showing private sector employment increased by less than expected in the month of March.<\/p>\n
ADP said private sector employment rose by 145,000 jobs in March after climbing by an upwardly revised 261,000 jobs in February.<\/p>\n
Economists had expected private sector employment to advance by 200,000 jobs compared to the addition of 242,000 jobs originally reported for the previous month.<\/p>\n