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Bond prices rise; Federal Reserve meeting eyed

Traders in the 10-year bond options pit at the Chicago Board of Trade signal orders.
Frank Polich | Reuters
Traders in the 10-year bond options pit at the Chicago Board of Trade signal orders.

U.S. government debt prices were higher on Wednesday as investors eyed economic data as well as the upcoming Federal Reserve meeting.

Symbol
Yield
 
Change
%Change
US 3-MO
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US 1-YR
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US 2-YR
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US 5-YR
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US 10-YR
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US 30-YR
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The yield on the benchmark 10-year Treasury notes, which moves inversely to price, was lower at around 2.3473 percent, while the yield on the 30-year Treasury bond was also lower at 3.0224 percent.

On the data front, the number of job openings in October came in at 5.53 million, in line with estimates.

The Federal Reserve are due to meet next week and according to the CME Group's FedWatch tool, market expectations for a potential interest rate rise are more than 90 percent.

In oil markets, Brent crude traded at around $53.55 a barrel on Wednesday, down 0.7 percent, while U.S. crude was around $50.39 a barrel, down 1.06 percent.

Oil prices slipped on the back of continuous doubts over whether a planned production cut led by OPEC and Russia would be deep enough to end global oversupply which has dogged markets for two years.