Rates moved higher Wednesday reflecting a late sell-off in mortgage-backed securities on Tuesday. Yesterday, Federal Reserve Bank of Atlanta President Dennis Lockhart said in an interview with The Wall Street Journal that the economy is ready for the first increase in short-term interest rates in more than nine years, and it would take “a significant deterioration” in the data to convince him not to recommend an increase at the September Fed meeting. In economic news, payrolls firm ADP estimated private sector job growth of 190,000 in July, below the consensus forecast of 210,000. The Trade Deficit came in slightly above expectations as export sales were hurt by the strong U.S. dollar. The Institute for Supply Management services index jumped to 60.3. A reading of 56.0 had been expected. No other key data will be released today.