Treasuries recovered from an early pullback to end the day roughly flat. Subsequently, the yield on the benchmark ten-year note which moves opposite of its price, edged down by less than a basis point to 3.99 %, closing below 4 % for the first time since late October.
The benchmark 10-year Treasury yield was relatively unchanged on Wednesday as investors continued to monitor developments that could affect the Federal Reserve's upcoming interest rate decision and speculated about the central bank's next chair. The yield on the 10-year Treasury was less than 1 basis point lower at 3.994% while the 30-year bond yield moved down more than 1 basis point to 4.64%. The 2-year note yield was more than 1 basis point higher at 3.47%.