the yield on the benchmark 10year treasury note rose 3 basis points to 1564 at 320 am et the yield on the 30year treasury bond jumped nearly 4 basis points to 2137 yields move inversely to prices and 1 basis point is equal to 001 the 10year us treasury yield climbed back above 156 early on wednesday ahead of the release of adps september employment change report due later in the morning the 10year rate topped 156 last week which was its highest point since june amid inflation and tighter monetary policy concerns payroll services firm adp is due to release its monthly jobs report at 815 am et the closely watched nonfarm payrolls report for september is then due out at 830 am et on friday a recovery in the labor market is one indicator being used by the federal reserve to decide when it should tighten monetary policy the central bank said in its september meeting that it would soon look to pull back its purchasing of bonds a betterthanexpected manufacturing reading tuesday aided optimism about the economic recovery the institute for supply managements services purchasing managers index report for september rose to 619 from 617 in august 02 points better than expected auctions are due to be held on wednesday for 30 billion of 119day bills and 40 billion of 64day bills