Prior to the publication of ADP’s September employment report, which is due out later this morning, the U.S. Treasury yield rose above 1.56% in its 10-year term.

Refer to the benchmark yield 10-year Treasury noteAt 3:20 AM, the rate of 1.564% climbed 3 basis points ET. ET. 30-year Treasury bondThe yields rose nearly four basis points to reach 2.137%. Yields are inversely related to price movements and 1 basis points is equivalent to 0.01%.

Due to inflation and tighter monetary policy, the 10-year rate was at 1.56% last week.

ADP, a payroll services company, will release its monthly employment report at 8:15 AM. ET.

At 8:30 AM, the closely-watched September nonfarm payrolls data will be available. ET Friday

The Federal Reserve uses a recovery in the labor markets as one indicator to determine when it should increase its monetary policy. In September, the central bank stated that it will soon be looking to reduce its purchase of bonds.

An optimistic outlook for the economy’s recovery was helped by Tuesday’s better than expected manufacturing data. This was 0.2 more than the expected improvement in September’s service purchasing manager index from Institute for Supply Management. It rose to 61.9, from 61.7 in August.

On Wednesday, auctions will be held for $40 billion in 64-day bills worth $30 billion and $39 billion respectively.

— CNBC’s Hannah Miao contributed to this market report.