U.S. government debt prices neared session lows in early trading on Wednesday, as investors geared up for a set of speeches by Federal Reserve officials and parsed through key data.
The yield on the benchmark 10-year Treasury note neared a session high of 1.7215 percent, while the yield on the 30-year Treasury bond also neared a session high at 2.4493 percent. The two-year note yield traded at 0.8615 percent, its highest level since September 21.
Bond yields move inversely to prices. Yields traded lower earlier in the session, after the ADP report's release.
Companies in September created jobs at the slowest pace in six months as the labor market showed further signs of tightening, according to a report Wednesday from ADP and Moody's Analytics.
Other data released Wednesday included the U.S. trade deficit widened to $40.7 billion in August, while weekly mortgage applications rose 2.9 percent last week. Factory orders and ISM non-manufacturing both came in better than expected. Market participant have been keeping a close eye on U.S. economic data, as the Federal Reserve has hinted at a possible rate increase later this year.