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