Treasuries extended the downward move seen over the two previous sessions. Subsequently, the yield on the benchmark ten-year note which moves opposite of its price, rose 2.4 bps to 4.08%.
U.S. Treasury yields edged higher on Wednesday but came off their highest levels of the morning after the Trump administration pledged to ensure that oil markets are well supplied and energy shipments can transit through the Strait of Hormuz. Investors also absorbed the latest domestic economic data.
The benchmark 10-year Treasury yield rose more than 3 bps to 4.09%. The 30-year Treasury bond added more than 2 bps to yield 4.72%. The yield on the 2-year Treasury note was higher by more than 4 bps, reaching 3.54%.