U.S. seven-year Treasury notes traded a point higher in price on Wednesday, extending a rally spurred by aggressive bidding in an auction of $29 billion of the coupon-bearing securities.

The seven-year Treasury notes were up one point in price to yield 2.72 percent, down from 2.87 percent late Tuesday, while benchmark 10-year notes traded 1-4/32 higher in price to yield 3.35 percent, down from 3.49 percent a day earlier.