The 2-year Treasury note yield was flat at 4.712%.
The 10-year Treasury note yield rose slightly Tuesday, adding to its gains from the previous session, as traders reassessed the possibility of the Federal Reserve cutting rates in June.
The ISM manufacturing index rose to 50.3, up from 47.8 in February and significantly better than the 48.1 Dow Jones consensus estimate.
Markets interpreted the unexpected return of U.S. manufacturing growth "as reducing the chances of meaningful Fed rate cuts," Dutch bank ING said in a research note.
The Fed also said at the time that it still expects three quarter-percentage point cuts by the end of the year.
Persons:
Gregory Faranello, Jeff Cox, Fred Imbert
Organizations:
Federal Reserve, Dow Jones, ING, AmeriVet Securities
Locations:
U.S