Treasuries are often bid up before the Fed buys bonds in the program that is designed to lower long-term borrowing costs and stimulate the economy.

The Fed bought $1.95 billion in bonds due 2040 and 2041 on Thursday, from $6.96 billion that was submitted for purchase.

Benchmark 10-year Treasuries were last up 3/32 in price to yield 1.82 percent, after earlier trading as low as 1.79 percent. Thirty-year bonds fell 1/32 in price to yield 2.93 percent, after earlier falling as low as 2.89 percent.