Treasury yields trimmed its decline on Wednesday after investors showed lackluster appetite for a 7-year note auction. The 10-year Treasury note yield TMUBMUSD10Y, +0.20% rose to 2.773% from an intraday low of 2.746%, while the 2-year note yield TMUBMUSD02Y, +0.71% was up 0.4 basis point to 2.282% from an intraday low of 2.246%. The 30-year bond yield TMUBMUSD30Y, -0.21% edged up to 3.017% from an intraday low of 3.001%. Bond prices move in the opposite direction of yields. The auction "tailed" 1.9 basis points, a sign of diminished appetite. The tail is the gap between the highest yield the Treasury sold in the auction and the highest yield expected when the auction began - the "when issued" level. The bid-to-cover ratio, the ratio of bids received to bids accepted, was at 2.34 below an average of 2.54 in the last six auctions. "Clearly a weak auction that has the Treasury market softer on the results," said Aaron Kohli, fixed-income strategist at BMO Capital Markets.