Treasury yields mixed as stocks gain slightly


U.S. government debt prices wavered on Wednesday as stocks struggled for gains.

The yield (which has an inverse relationship to the price) on the benchmark 10-year Treasury note rose to 1.838 percent, while the yield on the 30-year Treasury bond was lower at 2.678 percent.

The touched as high as 0.905 percent after private sector payrolls came in above estimates, its highest level since Jan. 14. But it gave up ground and last traded at 0.845 percent.

Global equities have been back in vogue this week while so-called safe havens, like Treasurys, have fallen out of favor. European and Asian markets pushed higher Wednesday after a stellar rally on Wall Street on Tuesday. Tuesday marked the best start to a month in more than three years in the U.S. The Dow closed up 2.1 percent at 16,865 and the bounced 2.4 percent to 1,978.

U.S. stocks closed slightly higher on Wednesday.

Investors will also be watching for more hints on future policy at the U.S. Federal Reserve and whether it will continue its tightening process this year.

In a speech, San Francisco Fed President John Williams said there is no evidence the United States is heading into a recession, according to Dow Jones. He also said inflation will move to the central bank's 2 percent target.

Elsewhere, results are still emerging from the biggest day of U.S. presidential primary contests, or Super Tuesday, where Hillary Clinton and Donald Trump looked set to win the majority of states. Trump walked away from the contest with a strengthened claim to the GOP nomination, but both of his chief national rivals notched wins that will most likely propel them onto the next series of contests.