Listen to this article
Investors sold US Treasury notes following a report on private-sector hiring that easily topped Wall Street forecasts.
The 10-year yield, which moves in the opposite direction of the price, was up by 3.3 basis points to 2.487 per cent. The more policy-sensitive two-year yield rose 3.2 basis points to 1.236 per cent.
The better-than-expected data that come ahead of the more closely-watched monthly jobs report on Friday are the latest suggestion that the labour market has continued to tighten, something that may put upward pressure on inflation. Higher price growth is typically bearish for bonds that offer fixed income streams.
Get alerts on Capital markets when a new story is published