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US Treasurys steady after mixed messages from Fed

Bonds: U.S. Treasurys Chart

US Treasury prices held their losses on Wednesday morning after a $30 billion three-year note auction on Tuesday and plenty of comments from Federal Reserve members for investors to chew over.

The yield on benchmark 10-year Treasurys was at 2.7533 percent after starting the session at 2.768 percent.

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On Tuesday, Atlanta Federal Reserve President Dennis Lockhart said the "encouraging" October jobs report would not fundamentally change the equation when Fed policymakers gather next month to decide whether to reduce the pace of their asset purchases. Meanwhile, Minneapolis Fed President Narayana Kocherlakota said in a speech on Tuesday that with weak inflation "there is no reason to be afraid of monetary stimulus."

Their comments follow those of Dallas Fed President Richard Fisher who told CNBC earlier on Tuesday that "tapering could not go on forever."

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On Wednesday, comments from Fed Chairman Ben Bernanke will be watched for further hints on the direction of monetary policy. Meanwhile, Vice Chairman Janet Yellen will testify before the Senate Banking Committee during her confirmation hearing on Thursday.

Speaking to CNBC earlier on Wednesday, U.S. Treasury Secretary Jack Lew was optimistic about the pace of growth in the U.S. and stressed that the world cannot rely on the U.S. to support the global economy.

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