US Treasurys higher after housing data

US 10-YR
US 30-YR

U.S. sovereign bonds edged higher Wednesday as investors continued to digest the tragic terror attacks in Brussels.

Investors also digested new home sales data for February, which showed sales coming in higher than expected. New home sales hit 512,000 last month, above the expected 510,000.

The yield on the benchmark 10-year Treasury note, which moves inversely to its price, moved lower to 1.8743 percent, while the yield on the 30-year Treasury bond was also lower at 2.6498 percent.

Global markets have been tracking developments in the wake of Tuesday's terror attacks in Belgium, which targeted the main airport and a metro station in Brussels. Police have since identified bombing suspects, one of which is believed to be at large.

Oil was trading lower Wednesday morning, as markets digested the U.S. Energy Information Administration's weekly crude oil inventory report, which showed a build of 9.4 million barrels.

U.S. WTI settled 4 percent lower, or $1.66, at $39.79 a barrel, marking its biggest daily loss since Feb. 11.

On Tuesday night, Philadelphia Fed President Patrick Harker delivered hawkish remarks on U.S. monetary policy and the economy. He said the Federal Reserve should consider another interest rate hike as early as next month if the U.S. economy continues to improve as it has of late. "I think we need to get on with it," he said.

— Reuters contributed to this report.