On the data front, initial jobless claims fell 14,000 to 246,000. The print is also below a consensus estimate of 250,000. Fourth-quarter non-farm productivity rose 1.3 percent. Investors also looked ahead to the January jobs report, which is scheduled for release Friday morning.
Treasurys fell slightly on Wednesday after the Federal Reserve kept interest rates unchanged.
Overseas, UK government bond yields traded lower after the Bank of England also kept interest rates steady. The 10-year gilt yielded 1.38 percent, while the two-year gilt yield traded at 0.106 percent.
In oil markets Thursday, Brent crude was around $56.71 a barrel, down 0.09 percent, while U.S. crude was at $53.64 a barrel, down 0.45 percent.