U.S. Treasury yields eased from multi-year highs on Wednesday, with the benchmark 10-year yield poised to snap a five-session streak of gains, as oil prices eased and investors gauged the latest round of economic data.
Crude prices fell about 1%, retreating from more than one-month highs reached earlier in the session, after U.S. Energy Secretary Chris Wright said that more than 17 million barrels of oil flowed through the Strait of Hormuz on Monday.
On the economic front, the ADP National Employment Report showed private employment rose by 38,000 jobs last month, below the 48,000 increase expected by economists polled by Reuters, after an upwardly revised 46,000 in July.