WASHINGTON (dpa-AFX) - After ending yesterday's choppy session roughly flat, treasuries showed a notable move to the downside during trading on Tuesday.
Bond prices moved steadily lower over the course of the session, closing firmly negative. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 4.4 basis points to 4.418 percent.
The weakness among treasuries came following the release of a report showing job openings in the U.S. were little changed in the month of May.
The Labor Department said job openings crept up to 7.594 million in May from a downwardly revised 7.585 million in April.
Economists had expected job openings to decrease to 7.298 million from the 7.618 million originally reported for the previous month.
'The low-hire, low-fire job market freeze is gradually thawing,' said Bill Adams, Chief U.S. Economist, Fifth Third Commercial Bank.
He added, 'The job openings rate held steady in May at the highest since late 2024, pointing to a modest improvement in labor demand in the next 12 months.'
Concerns strength in the labor market will make the Federal Reserve more likely to raise interest rates weighed on treasuries.
Looking ahead, ADP is due to release its report on private sector employment on Wednesday, while the Labor Department is set to release its more closely watched monthly jobs report on Thursday.
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