Investing.com - The yield on 10-year U.S. Treasury notes hit 3% ahead of the U.S. open on Wednesday after stronger than forecast private sector hiring data and ahead of the conclusion of the Federal Reserve’s latest policy meeting later in the day.
U.S. private employers added a larger than forecast 219,000 jobs in July, a report by payrolls processor ADP showed on Wednesday. Private sector jobs growth was revised to 181,000 in June from a previously reported 177,000.
The Fed was not expected to announce any change to interest rates following its meeting later Wednesday, with an increase more likely in September.
Data on Tuesday showed that U.S. consumer spending posted solid gains in June, while inflation rose moderately, underlining the view that the economy is strengthening.