U.S. government debt prices were lower on Wednesday as investors digested strong inflation data and remarks from Federal Reserve Chair Janet Yellen.
In prepared remarks, Yellen said the U.S. economy is closing in on the central bank's goals, giving it impetus to start reducing the extreme levels of support it has provided over the past decade.
"Right now our foot is still pressing on the gas pedal, though, as I noted, we have eased back a bit," Yellen said.
The yield on the benchmark 10-year Treasury note was higher at around 2.408 percent, while the yield on the 30-year Treasury bond was also higher at 3 percent. Yields move inversely to prices.