MW: Treasurys decline even as ADP posts high job losses
By Deborah Levine
NEW YORK (MarketWatch) -- Treasurys declined Wednesday, pushing yields higher, amid concern that U.S. Treasury Secretary Henry Paulson is debating whether to ask Congress for the second installment of the $700 billion bailout package. Ten-year note yields rose 4 basis points to 2.72%, reversing some of Tuesday's strong gains. Yields remained higher on the day after the ADP national employment index said the U.S. private sector shed 250,000 jobs in November, the biggest job loss in six years. The loss was in line with estimates of analysts surveyed by MarketWatch. The report comes two days before the government releases its report on the labor market for November, with analysts expecting the worst losses in more than 25 years.
