U.S. Treasuries extended gains on Wednesday, with the 30-year bond rising over a point in price, after aggressive bidding in an auction of $29 billion of seven-year notes.

Benchmark 10-year Treasury notes were trading 22/32 higher in price to yield 3.40 percent, down from 3.49 percent late Tuesday, while seven-year notes were 20/32 higher to yield 2.77 percent from 2.87 percent.

Thirty-year bonds were trading 1-8/32 higher in price to yield 4.46 percent from 4.54 percent.

(Reporting by Chris Reese; Editing by Leslie Adler)