U.S. government debt yields fell on Wednesday as investors remained cautious about a possible trade deal between the U.S. and China.
The benchmark 10-year Treasury note yield, which moves inversely to price, was lower at around 1.8134%, the first decline in four days. The yield on the 30-year Treasury bond was also lower at around 2.3013%.
A meeting between President Donald Trump and Chinese leader Xi Jinping to sign a limited trade agreement could be delayed until December as the two sides still need to decide on the terms and a venue, Reuters reported Wednesday, citing a senior Trump administration official.
Last month, the U.S. and China reached a truce and started working to finalize a "phase one" trade agreement that includes a pause in tariff escalation and China buying U.S. agriculture products.
A potential summit in Europe would be relatively neutral territory for the two leaders, CNBC reported. Trump is scheduled to be in London for a gathering of NATO leaders on Dec. 3-4, and people close to talks told CNBC a potential signing could happen nearby before or after that visit.
The world's two largest economies have imposed tariffs on billions of dollars' worth of one another's goods since the start of 2018, battering financial markets and souring business and consumer sentiment.
Yields also moved lower on Wednesday after a Labor Department report said U.S. productivity dropped by the most since the fourth quarter of 2015 during the third quarter.