U.S. government debt prices traded lower on Wednesday as investors digested U.S. economic data while awaiting the end of the latest Federal Open Market Committee (FOMC) meeting.
Data releases included housing starts, which rose 5.2 percent last month, and Consumer Price Index data, which showed a 0.2 percent fall, in line with expectations. Industrial production data for February showed an output fall of 0.5 percent.
The FOMC is due to conclude its two-day meeting on Wednesday with the 2 p.m. ET release of its statement and economic projections. Those include the highly scrutinized “dot plot,” which shows the targets for appropriate federal funds rates by FOMC participants.
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