NEW YORK: US Treasuries yields rose on Wednesday after the January reading on a gauge on U.S. private jobs creation supported the view of steady domestic employment growth and revived bets the Federal Reserve might raise interest rates in mid-2015.
The ADP National Employment Report said U.S. private employers added 213,000 jobs in January, falling short of the 225,000 increase forecast among economists polled by Reuters. It was also the lowest monthly gain since September.
The smaller-than-expected increase in January was offset by an upward revision of the December increase by 12,000 to 253,000.
The two-year Treasuries yield, which is more sensitive to changes in traders' view on Fed policy, hit a three-week high at 0.540 percent. It last traded at 0.528 percent, up 2 basis points from Tuesday's close.
Longer-dated U.S. government yields touched their highest levels in 1-1/2 weeks. Benchmark 10-year note yields reached as high as 1.846 percent before slipping to 1.831 percent, which was still up 5 basis points from late on Tuesday.
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