Treasuries Slip in Quiet Trading Ahead of FOMC Meeting

After a day of very quiet trading activity, Treasuries were lower, especially at the long end, which lost more than half a point. The shorter-term notes were marginally off. With no release of economic data today, dealers are awaiting decisions to come from the Jan. 30-31 meeting of the Federal Open Market Committee , the policy-making arm of the Federal Reserve .

Yields were up slightly on the 10-year and the 30-year Treasury and close to flat on the notes after having dipped earlier in the morning.

The benchmark 10-year Treasury note fell 12/32 to 103 10/32, raising its yield 4.9 basis points to 5.315%. ...