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TREASURIES-U.S. bonds erase most of a modest gain
October 3, 2012 / 12:55 PM / 5 years ago

TREASURIES-U.S. bonds erase most of a modest gain

NEW YORK, Oct 3 (Reuters) - U.S. Treasuries erased most of a small gain on Wednesday after the release of the ADP report showing stronger-than-expected hiring by U.S. companies.

The benchmark 10-year note, up 5/32 earlier, turned flat on the day after the data, then rose 3/32, leaving its yield at 1.62 percent, in the middle of its 2-1/2 month range.

“We have long end supply coming next week, the jobs data on Friday, and slightly better than expected ADP this morning,” said Tom di Galoma, managing director at Navigate Advisors LLC in Stamford, Connecticut. “All these factors weighed on the market.”

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