Treasurys slip after Fed statement
Prices fall after the central bank announces interest rates will be held steady at 5.25 percent.
NEW YORK (CNNMoney.com) -- Bond prices tumbled Wednesday after the Federal Reserve released its policy statement that showed interest rates would be held steady.
The dollar rose against the euro and the yen.
The benchmark 10-year note fell 13/32, or $4.06 on a $1,000 note, to yield 4.66 percent, up from 4.64 percent late Tuesday.
The 30-year bond tumbled 16/32, or $5.00 on a $1,000 bond, to yield 4.83 percent, up from 4.80 percent in the previous session. Bond yields and prices move in opposite directions.
The five-year note slipped 6/32 to yield 4.58 percent, while the two-year note lost two ticks, yielding 4.72 percent.
Central bank policymakers were widely expected to keep interest rates at 5.25 percent, making it the seventh consecutive time the Fed has held rates steady.
Investors closely scrutinize the Fed's policy statement to see if the central bank has subdued inflation.
The Fed noted that economic growth slowed early this year, but indicated it's also still worried about inflation, saying in its statement "the predominant policy concern remains the risk that inflation will fail to moderate as expected."