government bonds is becoming less attractive relative to other assets, according to the report.
Who’s going to replace the demand side?” Benchmark 10-year notes last fell 10/32 in price to yield 2.5825 percent, from 2.546 percent late on Tuesday.
It earlier rose to 2.597 percent, the highest since March 15.
The Dow Jones Industrial Average fell 52.2 points, or 0.21 percent, to 25,333.6, the S&P 500 lost 6.67 points, or 0.24 percent, to 2,744.62 and the Nasdaq Composite dropped 32.02 points, or 0.45 percent, to 7,131.56.
stocks have had a strong start to the year, with the S&P and the Nasdaq having closed at record highs on every single day in 2018, buoyed by optimism over global economic growth and expectations of a strong quarterly earnings.