By Hannah Miao, CNBC •
Updated 1 min ago
Source: CNBC
The bond market was mostly flat Wednesday after wild morning trading, with disappointing ADP jobs data knocking the 10-year Treasury yield to its lowest level since February before a strong services economy reading caused it to reverse higher.
The yield on the benchmark 10-year Treasury note added 1 basis point at 1.184% by 4:00 p.m. ET. The yield on the 30-year Treasury bond edged less than a basis point lower at 1.842%. Yields move inversely to prices and one basis point equals 0.01%.
The latest Services ISM Report On Business showed economic activity in the services sector grew last month. The July Services Purchasing Managers' Index came in at an all-time high of 64.1% in July, higher than the June reading and the prior record-high May number.