Bond prices were unchanged on Wednesday after the Federal Reserve said the economy continued to expand across most regions and sectors from early January through mid-February, with auto sales and consumer spending rising in most Fed districts.
In its Beige Book report of anecdotal information on business activity collected from contacts across the nation, the central bank said wage pressures were moderate across most districts.
U.S. Treasurys seesawed between positive and negative territory earlier after a weaker-than-expected reading on U.S. private payrolls growth contrasted with stronger-than-expected U.S. services sector data and created uncertainty ahead of Friday's U.S. jobs report.
U.S. private employers added 212,000 jobs last month, lower than economists' expectations for 220,000, according to a Reuters poll. The figure was also lower than January's upwardly revised figure of 250,000.
The Institute for Supply Management, meanwhile, said its services index was 56.9 in February, up slightly from 56.7 in January and beating analysts' expectation for a reading of 56.5, according to a Reuters poll.