10-year Treasury yield dips to 1.45% ahead of economic data

U.S. Treasury yields fell Wednesday morning despite stronger employment numbers for the month of June released by ADP.The yield on the benchmark 10-year Treasury note fell 2.6 basis points to 1.454% at 10:05 a.m. EST. The yield on the 30-year Treasury bond dipped 2.8 basis points to 2.068%. Yields move inversely to prices.ADP reported an increase of 692,000 payrolls in June, beating analyst estimates of 600,000.Investors will be watching to see how the Federal Reserve responds and if it will tighten its monetary policy sooner than expected. However, it is Friday’s jobs report from the Labor Department that will be more the focus of investor attention this week.Stock picks and investing trends from CNBC Pro:Pending home sales jumped an unexpectedly high 8% in May compared with April, the National Association of Realtors reported Wednesday, beating analysts’ expectations of a 1% drop. This is the highest level of sales activity for May since 2005. Pending home sales are a measure of signed contracts on existing homes.An auction is due to be held on Wednesday for $35 billion worth of 119-day bills.

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