U.S. Treasury yields were falling Wednesday but were off their lows after strong data on job openings.

The November Job Openings and Labor Turnover report Wednesday showed job openings totaled 10.5 million, which was stronger than expected.

The 10-year yield was down about 9 basis points. A basis point equals 0.01 of a percentage point.

The closely watched 10-year yield was as low as 3.66% before climbing back to 3.69% in late morning trading. Yields move opposite price.

Greg Faranello of AmeriVet Securities said the move lower was retracing the run up to 3.87% at the end of last year. “We got down to a clean slate…We’re in a bit of a range now,” he said.

The bond market is heavily focused on Friday’s upcoming jobs data, which could factor into the Federal Reserve’s rate hiking decision in early February. The Fed has been trying to cool inflation and the hot labor market with its rate hikes. Economists expect strong job growth of about 200,000 in December.

–Patti Domm