U.S. government debt prices were mostly lower on Wednesday as investors keep an eye on President-elect Donald Trump's policy agenda and digested a slew of economic data and minutes from the Federal Reserve's Nov. 1-2 meeting.
The minutes back the consensus view on Wall Street that the Fed is poised to raise rates in December
The yield on the benchmark 10-year Treasury notes, which moves inversely to price, was higher at around 2.35 percent, while the yield on the 30-year Treasury bond was also higher at 3.02 percent. The two-year note yield, meanwhile, hit its highest level since April 2010 and was last trading near 1.14 percent.
But earlier, Treasury yields fell slightly after the Treasury Department auctioned $28 billion in seven-year notes at a high yield of 2.215 percent.
The bid-to-cover ratio, an indicator of demand, was 2.68, above a recent average of 2.5.
Indirect bidders, which include major central banks, were awarded 72.7 percent, well above a recent average of 62 percent. Direct bidders, which include domestic money managers, bought 9.4 percent, below a recent average of 13 percent.
The yield on the seven-year Treasury note dipped to about 2.16 percent, having traded near 2.22 percent before the sale.