Treasurys mixed ahead of Fed statement

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NEW YORK (CNNMoney.com) -- Bond prices were mixed on Tuesday afternoon as investors await a statement from the Federal Reserve on monetary policy due Wednesday and monthly jobs data due Friday.

"There is a void of any good information," said Bill Larkin, portfolio manager at Cabot Money Management. "The treasury market is priced to perfection, but the stock market is overvalued and indicates a robust recovery. But we'll get a better snapshot of what's going to happen from the Fed's statement and employment data."

The U.S. central bank wraps up a two-day meeting Wednesday and is expected to hold interest rates at historic lows near 0%. But investors will be looking to the Fed's statement for clues as to when it will to begin to remove stimulus funds it has pumped into the economy.

While bonds are perceived as attractive investment as safe havens, Larkin said a hint that the Fed will unwind its liquidity in the market soon would be problematic.

Traders will also look to October's nonfarm payroll report due Friday for clues about the strength in economic recovery. If the data suggests improvement in the employment market, Larkin says bond prices will retreat.

Bond prices: The benchmark 10-year note was down 14/32 to 101 9/32 and its yield rose to 3.47% from 3.43% late Monday. Bond prices and yields move in opposite directions.

The 30-year bond lost 1 9/32 to 102 24/32. Its yield was 4.34%.

The 2-year note edged higher to 100 6/32, with a yield of 0.92%.

The yield on the 3-month bill was 0.06%