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US Treasury yields fall after ADP report

FXStreet (Mumbai) - The yields on the short duration as well as longer duration treasuries in the US fell after the weaker-than-expected ADP monthly jobs report hit the wires.

Long yields relatively weak

The yield on the 10-year Treasury note fell to 1.876% from 1.93% post the release of a weaker-than-expected ADP data. Similarly, the 30-year yield fell to 2.489%. The 10-year yield and the 30-year yield are down by 4 basis points each.

On the other hand, the yields on the short duration Treasuries have stayed relatively resilient. The 1-year yield is moderately lower at 0.255%, while the 2-year yield is down 1.2 basis points at 0.547%.

Treasuries gained, pushing the yields lower, as the ADP data showed the private sector in the US added 189,000 jobs in March, missing the expected figure of 225,000 by a wide margin. The monthly ADP would be followed by the all important March non-farm payrolls report on Friday.

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