Treasuries rallied sharply on Wednesday after the Federal Reserve cut interest rates.
The Fed lowered its benchmark federal funds rate by a quarter percentage point to 2 percent, as investors had anticipated. In a statement, the Fed left the door open to additional rate cuts.
The benchmark Ten-year notes rose 22/32 in price to yield 3.740 at 4:38 p.m. in New York
Two-year treasuries rose 5/32 to yield 2.278 percent. Thirty-year bonds were up 1 12/32 in price to yield 4.471 percent.