TREASURIES-U.S. bond prices extend losses after ADP jobs data

NEW YORK Wed Jan 8, 2014 8:27am EST

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NEW YORK Jan 8 (Reuters) - U.S. Treasuries prices extended their earlier decline on Wednesday after ADP said domestic companies added more workers in December than forecast, suggesting the U.S. economic recovery was gaining momentum at year-end.

The payroll processor said U.S. companies hired 238,000 workers last month, above the 200,000 forecast by analysts polled by Reuters. This was the strongest monthly figure in 13 months.

ADP also upgraded its November private job reading to 229,000 from the initially reported 215,000.

Benchmark 10-year Treasury notes last traded 12/32 lower in price with a yield of 2.982 percent, up 4.5 basis points from late on Monday. The 10-year notes prior to the ADP data were down 5/32 with a yield of 2.958 percent.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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