Fed buying supports bonds Treasurys gained a little support Wednesday after ADP Employment Services said private companies slashed 742,000 jobs in March, raising concerns that Friday's government job report will show an even bigger-than-expected drop in payrolls. Ten-year note yields , which move in the opposite direction of prices, fell 1 basis point to 2.66%, adding to Tuesday's gains. A basis point is 0.01%. Two-year note yields ) fell 1 basis point to 0.80%. On Friday, the Labor Department is expected to say nonfarm payrolls dropped by 663,000 in March and the unemployment rate jumped to 8.5%. "Expect the market to consolidate yesterday's late extension gains in what should be an ongoing choppy environment with two way activity driven by equity gyrations" and policy announcements from the Group of 20 meeting in London, said John Spinello Treasury strategist at Jefferies & Co. See more on G20 meeting. Treasurys are also supported as investors watch for how much the Federal Reserve buys in U.S. debt maturing in 2012 and 2013. On Monday, the central bank bought $2.5 billion in bonds maturing in 17 to 30 years. That followed $15 billion in shorter-dated debt bought last week to kick off a plan to buy $300 billion in U.S. debt to force borrowing costs lower. Coming up at 10 a.m. Eastern time are a pair of reports on manufacturing activity and pending home sales. In the first quarter ended Tuesday, Treasurys of all maturities lost 1.43%, according to an index compiled by Merrill Lynch.

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