WASHINGTON (dpa-AFX) - Following the strong upward move seen over the two previous sessions, treasuries showed a lack of direction during trading on Wednesday.
Bond prices spent most of the day lingering near the unchanged line before closing slightly higher. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, edged down by 1.0 basis points to 4.617 percent.
The ten-year yield closed lower for the third straight session, continuing to give back ground after ending last Friday's trading at its highest closing level since early 2025.
The lackluster performance on the day came as traders expressed some uncertainty about the situation in the Middle East, leading to relatively choppy trading in crude oil futures.
After plummeting by more than 10 percent over the two previous sessions, crude oil prices have seen some further downside, but selling pressure has remained relatively subdued.
While President Donald Trump and his administration continue to claim they are close to a deal to once again re-open the Strait of Hormuz, traders may be waiting for more concrete developments.
In U.S. economic news, payroll processor ADP released a report showing private sector employment in the U.S. increased by less than expected in the month of July.
The report said private sector employment rose by 44,000 jobs in July after climbing by a downwardly revised 95,000 jobs in June.
Economists had expected private sector employment to grow by 75,000 jobs compared to the addition of 98,000 jobs originally reported for the previous month.
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