Treasurys
U.S. Treasury bonds declined and the yield curve steepened on Wednesday after the ADP jobs report, which is viewed as an indicator of the all-important non-farm payrolls, showed a large gain in private payrolls last month.
, 10-year and 30-year yields rose in the wake of the report, steepening the yield curve, after the data showed a net gain of 281,000 jobs in June, well above analyst estimates. The 10-year yield held near 2.63 percent, while the 30-year yield edged up to 3.46 percent.
Bonds held their losses as Federal Reserve chair Janet Yellen said in a speech that she saw no need "for monetary policy to deviate from a primary focus on attaining price stability and maximum employment, in order to address financial stability concerns."
The monthly non-farm payrolls report is due out on Thursday, having been brought forward because of the July 4 holiday. Economists polled by Dow Jones forecast that employers created 215,000 positions in June.
Developments in Iraq remain on the radar. The country's new parliament failed to elect a speaker on Tuesday, despite Washington urging the quick formation of a new government. The speaker is one of the three leadership positions, along with the president and prime minister.
--By CNBC.com