Bonds extend losses after ADP July job growth

Wednesday, 01 August 2012 20:20

Posted by Asad Naeem

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NEW YORK: US Treasuries extended early losses on Wednesday after the ADP National Employment Report showed higher-than-forecast private sector job growth in July.

The benchmark 10-year Treasury note, down 5/32 before the report, was down 7/32 afterwards, its yield rising to 1.49 percent from 1.47 percent late on Tuesday.

The 30-year Treasury bond, down 13/32 in early dealings, was down 20/32 after the report, its yield rising to 2.57 percent from 2.55 percent late on Tuesday.

The ADP national employment report showed private sector US employment rose by 163,000 jobs in July, more than the 120,000 new jobs economists had forecast.