U.S. sovereign bond prices were mixed Wednesday after of the release of the Federal Reserve's Beige Book.
The yield on the 10-year Treasury note was about flat at 1.847 percent, while the yield on the 30-year Treasury bond fell to 2.619 percent. Two-year yields, however, rose to trade at 0.903 percent.
Inflation pressures grew slightly across most of the United States from April to mid-May, the Fed said on Wednesday in a report that also pointed to rising labor costs for American companies. The Beige Book, a collection of anecdotal information from business contacts nationwide, found that labor markets appeared to be tightening despite "modest" job growth.