U.S. sovereign bond prices pared their losses Wednesday, after briefly pushing yields to session highs, following the Federal Reserve's decision on interest rates.
As expected, the Fed voted to maintain its zero interest rate policy, citing weakness in exports and soft inflation as reasons to continue its historically easy monetary policy.
Earlier, bond yields had traded higher after the Treasury Department auctioning $35 billion in five-year notes at a high yield of 1.415 percent. The bid-to-cover ratio, an indicator of demand, was 2.43, its lowest since September.
Indirect bidders, which include major central banks, were awarded 58.9 percent. Direct bidders, which include domestic money managers, brought 3.8 percent.
Benchmark 10-year Treasury yields climbed to 2.093 percent, after briefly rising to 2.100 percent, having closed at 2.028 percent on Tuesday.
Yields on the 30-year Treasury climbed to 2.864 percent after finishing at 2.851 percent in the previous session.