Treasury yields rise after a slew of better-than-expected economic data

U.S. government debt prices fell on Wednesday as traders monitored fresh economic data and developments in the U.S.-China trade war.

The yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 1.7127%, while the yield on the 30-year Treasury bond was also higher at around 2.1837%.

Market players have been monitoring trade developments between the U.S. and China with mixed messages about the prospect of the two countries reaching a phase one deal before the end of the year. President Donald Trump said Tuesday that a deal with Beijing is in the "final throes."


Earlier this week, officials from both countries spoke over the phone in an attempt to "resolve core issues." The U.S. is due to impose fresh duties on Chinese goods by December 15, if there is no agreement by then.

Jobless claims and Beige Book

Durable goods orders rose 0.6% in October while economists expected a decline of 0.8%. Weekly jobless claims, meanwhile, fell to 213,000 from 227,000.

Third-quarter GDP was revised to show growth of 2.1%, up from a previous reading of 1.9%.

The Federal Reserve's Beige Book is also set to be released at 2 p.m. on Wednesday.

The U.S. Treasury is set to auction $50 billion in four-week bills, $40 billion in eight-week bills and $32 billion in seven-year notes.