U.S. government debt prices wavered on Wednesday as stocks struggled for gains.
The 2-year Treasury yield 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 S&P 500 bounced 2.4 percent to 1,978.
U.S. stocks closed slightly higher on Wednesday.