The yield on the 10-year US Treasury note rose to 4.25% on Wednesday after poor demand on a new 10-year note, reflecting lingering worries of longer term inflationary risks. Still, the yield in the note remains near the three-month low of 4.19% the prior session. Services activity tracked by the ISM nearly stalled in July, compared to expectations of a sharper expansion, while the employment gauge contracted for a fourth month in five. This was after 258,000 nonfarm payrolls were removed from aggregates in the last two months following the latest revisions by the BLS, magnifying the impact of the miss in July's payroll count. The new figures reflected a greater impact of tariff threats and uncertain economic policy on the US labor market in the last months, erasing the earlier view that the US labor market was robust. Also lowering yields, the Treasury announced it would increase the volume of buybacks on notes, bonds, and TIPS.