NEW YORK: The yield on US five-year Treasuries climbed to session highs in late morning trading on Wednesday as traders pared safe-haven holdings in this maturity, prompted by further gains on Wall Street stocks and domestic oil futures.

The yield on five-year Treasuries notes was last 1.567 percent, up 4 basis points from Tuesday's close after it hit a session peak of 1.571 percent earlier Wednesday.

Major U.S. stock indexes were sharply higher with the Standard & Poor's 500 up 1.1 percent.

On the New York Mercantile Exchange, spot crude futures was up 61 cents at $56.54 a barrel.

Copyright Reuters, 2014