Treasury prices lower on better jobs numbers
NEW YORK (AP) — Signs that more jobs were created in the U.S. last month pushed Treasury prices lower Wednesday.
A closely watched private estimate of hiring exceeded economists' expectations. Payroll processor ADP said employers added 216,000 jobs last month. The result lifted hopes about the government's February jobs report, due to be released Friday.
The losses were limited because investors are still worried about a looming deadline in the Greek debt crisis. Hedge funds, banks and other investors that own Greek government debt have until Thursday night to exchange their bonds for new ones with lower values and interest rates. If enough investors don't participate, Greece might default, which could disrupt the global lending and financial markets.
The 10-year Treasury note fell 31.2 cents for every $100 invested. Its yield rose to 1.98 percent from 1.95 percent late Tuesday.
The 30-year bond also fell 81.2 cents, sending its yield higher to 3.12 percent from 3.08 percent from 3.15 percent.
The yield on the two-year Treasury note rose to 0.31 percent, up from 0.28 percent late Tuesday. The three-month Treasury bill paid a yield of 0.07 percent, unchanged from Tuesday.
