U.S. Treasury prices fell on Wednesday as U.S. inflation data came in tame.
Yields on benchmark 10-year Treasury notes last stood at 2.22 percent, up from Tuesday's close of 2.208 percent.
The Bureau of Labor Statistic's Consumer Price Index for September rose 0.1 percent, in line with estimates, with the inflation rate reflecting falling gasoline prices following a slump in the cost of oil. The slight rebound in inflation may delay the Fed's plan to raise rates in 2015.
The 30-year bond fell 4/32 in price to yield 2.99 percent in afternoon trading.
On Tuesday, Treasurys extended losses after a report showed U.S. home resales hit a one-year high in September, surpassing Wall Street expectations.Yields on 10-year bonds rose to 2.215 percent after the news.
Existing home sales gained 2.4 percent to an annual rate of 5.17 million units, the highest level since September 2013, according to the National Association of Realtors. Analyst had expected the figure to rise at a 5.10 million unit pace.
In Europe and Asia, markets have been reacting to rumors that the European Central Bank (ECB) could begin purchases on corporate bonds in the secondary debt market in order to tame falling inflation in the region.