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US Treasurys edge lower; economic data and auction in focus

Sam Meredith
Andrew Renneisen | Getty Images

U.S. government debt prices were lower on Wednesday as investors eyed economic data and an auction.

The yield on the benchmark 10-year Treasury notes (U.S.:US10Y), which moves inversely to price, was higher at around 2.545 percent, while the yield on the 30-year Treasury bond was also higher at 3.14 percent.

Wednesday will see the auction of $20 billion in 10-year notes. Meanwhile, Federal Reserve Chair Janet Yellen has signaled a U.S. interest rate would be likely this month with the Federal Open Market Committee scheduled to meet on March 14-15.

On the data front, Wednesday will see ADP payrolls for February released at 8:15 a.m ET with productivity and unit labor costs for the final three months of 2016 due to follow at 8:30 a.m ET. Wholesale trade data for January is scheduled for 10 a.m ET.

In oil markets, prices edged lower after industry data pointed to a ninth consecutive week of inventory builds which inflamed concerns regarding global oversupply.

Brent crude traded at around $55.38 a barrel on Wednesday, down 0.97 percent, while U.S. crude was around $52.58 a barrel, down 1.04 percent.



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