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US Treasurys mixed after Fed releases Beige Book

U.S. government debt prices traded flat to slightly higher Wednesday, with traders keeping an eye on the price gains seen in oil, amid a key set of economic releases.

The yield on the benchmark 10-year Treasury note was down at around 1.534 percent, while the yield on the 30-year Treasury bond was lower at 2.23 percent. Bond yields move inversely to prices. The two-year note yield rose slightly, to 0.738 percent.

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%Change
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US 1-YR
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US 2-YR
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US 5-YR
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US 10-YR
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US 30-YR
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On the data front, mortgage applications rose 0.9 percent last week. Other data due Wednesday included the Job Openings and Labor Turnover Survey (JOLTS), which showed employers posted 5.9 million openings in July.

The Federal Reserve released its Beige Book, saying it sees modest wage growth in the coming months.

The Fed has been front and center as of late, with investors pondering when the central bank will decide to raise interest rates. Recent data including ISM non-manufacturing and the nonfarm payroll data for August have come in below market expectations, suggesting that the Fed is less likely to hike this month.

Meanwhile, the Bank of England's Governor Mark Carney said he was "serene" about the way the central bank warned of a possible Brexit hit to Britain's economy, before voters decided in June to leave the European Union.

"I am absolutely serene about the ... judgments made both by the MPC and the FPC," Carney told lawmakers, referring to the Bank's monetary and financial policy committees.

Carney came under criticism from supporters of Brexit in the run-up to the referendum, and after it, for saying the economy would face a material slowdown, and possibly a recession, in the event of an "Out" vote.

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Central banks aren't the only thing shaking up markets. Oil has kept investors on their toes in recent trading sessions, as investors debate whether leading oil producers will take significant action to curb the current supply glut seen in the oil market.

Crude futures seesawed Wednesday, with U.S. crude last standing around $45.50 per barrel, while Brent hovered around $48.

No auctions are set to take place by the U.S. Treasury on Wednesday.

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—Reuters contributed to this report.