NEW YORK (CNN/Money) - Treasury bond prices declined Wednesday, lifting yields off historic lows, as a strong performance by U.S. stock markets dampened safe-haven flows.

Yields rose between 7 and 10 basis points across the curve, while 10-year note futures sagged almost a full point after nine straight days of gains.

Supply also weighed on the market, with Treasury auctioning a record-matching $27 billion in new two-year paper. The sale attracted bids for twice the amount of debt on offer, a little above the average for the year, which was respectable given its yield of 1.96 percent was the lowest ever at an auction.

But the market had hoped for even more to help counter the impact from equities.

Around 3:30 p.m. ET, the benchmark 10-year note shed 28/32 in price to 105-3/32, pushing its yield up to 3.75 percent from Tuesday's 44-year low of 3.65 percent.

The five-year note fell 14/32 to 102-2/32, taking yields to 2.80 percent from 2.70 percent, while the 30-year bond slid 1-14/32 to 110-07/32, pushing yields to 4.72 percent from 4.63 percent.

At the short end, the two-year note dropped 5/32 to 100-11/32, yielding 1.95 percent from 1.88 percent.

"It just shows that it's hard for investors to be excited about buying Treasurys when yields are at generational lows," said Mike Ryan, fixed-income strategist at UBS PaineWebber.

"And equities have bounced, so it's no surprise to see bonds under pressure, particularly given how far they've rallied recently," he added.

Even after Wednesday's advance in Treasury yields, the rate on the benchmark 10-year note is still 30 basis points below the level seen just a fortnight ago.

Much of those gains came on the back of safe-haven flows from stocks, but Wall Street notched a solid advance Wednesday, aided by comforting earnings forecasts from General Electric Co. (GE: Research, Estimates) and International Paper Co. (IP: Research, Estimates).

Ryan noted that yields have fallen so far that they needed a constant diet of "bad" news to get any lower.

"You need the economic data to be soft, equities to be volatile, and more saber rattling over Iraq for investors to want to buy at these levels," he said. "After all, they're not buying because of greed but for fear."

In the currency market, the dollar was mixed against the euro and the yen. The euro bought 97.68 U.S. cents, down from 98.09 late Tuesday. The dollar purchased ¥122.76, down from ¥123.28 late Tuesday.  

-- from staff and wire reports