NEW YORK (CNN/Money) - U.S. Treasury prices slid Wednesday as lower oil prices boosted equity markets, making safe haven investments less attractive, while fears over a strong payrolls report and better-than-expected auto sales pressured bonds.

The dollar was mixed against the euro and the Japanese yen.

At about 4 p.m. ET, the benchmark 10-year note fell 7/32 of a point to 100-4/32 to yield 4.73 percent, up from 4.70 late Tuesday, and the 30-year bond shed 11/32 to 99-11/32 to yield 5.42, a bit higher than 5.40 percent late Tuesday. Prices and yields move in opposite directions.

The two-year note lost 3/32 to yield 2.63 percent and the five-year note dropped 7/32 to yield 3.89.

With no major economic data due Wednesday, traders watched the volatile crude oil market, which fell from record highs after OPEC ministers promised to boost crude production.

Stock markets firmed up on the news, making safe haven investments less attractive than stocks. Rising energy costs also have mixed implications for bonds because they can fuel inflation but also act as a tax on consumers. Sustained high prices could temper the global trend toward higher official interest rates.

The Bureau of Labor Statistics releases figures Friday for May unemployment and payroll growth, and investors worry that another month of solid job growth could guarantee that the Federal Reserve will raise short term interest rates, eroding the value of Treasurys.

Analysts expect the May payrolls report will show a third month of robust job creation.

"Leading indicators of job creation were generally favorable," Steven Wood, chief economist at Insight Economics, told Reuters.

Traders took a defensive stance, selling bonds in anticipation of a potential sell-off, with many convinced that the Fed will raise interest rates by a quarter of a percentage point at its meeting late this month.

May auto sales figures were released throughout the day, an important gauge for analysts because figures for domestic-made car sales feed directly into gross domestic product calculations.

The total tally Wednesday was about 14.2 million car and light truck sales, surpassing median forecasts of 13.4 million in May and up dramatically from April's 13.03 million.

In the currency market, the dollar was mixed against the euro and the yen. The euro bought $1.2212, down from $1.2244 late Tuesday, and the dollar purchased ¥110.14, down from ¥110.64 on the day.  

-- from staff and wire reports