NEW YORK (CNNMoney.com) -- Treasurys were mixed late Wednesday after the Federal Reserve left interest rates unchanged near zero.
What prices are doing: The benchmark 10-year note was down 1/32 at 97-24/32, while the yield rose to 3.66%, up from 3.61% late Tuesday. Bond prices and yields move in opposite directions.
The 30-year bond was flat at 96-30/32, and its yield was 4.57%. The 2-year note edged down less than 1/32 to 99-29/32 and yielded 0.92%.
On Tuesday, Treasurys were boosted by a stronger dollar amid speculation that China will continue to tighten its credit policy.
What's driving prices: The U.S. central bank's Federal Open Market Committee (FOMC) issued its policy statement, leaving interest rates steady near zero.
The Census Bureau said Wednesday that the annual rate of new home sales plunged 7.6% to 342,000 in December, a 9-month low.
Analysts surveyed by Briefing.com had expected sales to hit a rate of 366,000.
What analysts are saying: Michael Cheah, a bond fund manager at SunAmerica, said he doesn't expect the Federal Reserve to raise rates any time soon, but when rates are eventually raised, he expects a flight to the perceived safety of Treasurys as investors exit the stock market.
Cheah said concerns about foreign debt will also likely boost the appeal of bonds down the road.
"The media is not paying enough attention to the sovereign risk problem, and we are in the same kind of denial as we were in going into the housing crisis," he said.
"We already have Dubai which hasn't been resolved yet, and we now have Greece, Portugal, Italy and Spain," said Cheah. "Any kind of solution is not going to be easy." 
| Overnight Avg Rate | Latest | Change | Last Week |
|---|---|---|---|
| 30 yr fixed | 3.80% | 3.88% | |
| 15 yr fixed | 3.20% | 3.23% | |
| 5/1 ARM | 3.84% | 3.88% | |
| 30 yr refi | 3.82% | 3.93% | |
| 15 yr refi | 3.20% | 3.23% |
Today's featured rates:
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 32,627.97 | -234.33 | -0.71% |
| Nasdaq | 13,215.24 | 99.07 | 0.76% |
| S&P 500 | 3,913.10 | -2.36 | -0.06% |
| Treasuries | 1.73 | 0.00 | 0.12% |
| Company | Price | Change | % Change |
|---|---|---|---|
| Ford Motor Co | 8.29 | 0.05 | 0.61% |
| Advanced Micro Devic... | 54.59 | 0.70 | 1.30% |
| Cisco Systems Inc | 47.49 | -2.44 | -4.89% |
| General Electric Co | 13.00 | -0.16 | -1.22% |
| Kraft Heinz Co | 27.84 | -2.20 | -7.32% |
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