Treasury prices declined Wednesday before the government sells $34 billion in 5-year notes, the second of the week's big note auctions. Yields on 10-year notes , which move inversely to prices, inched up 3 basis points to 2.74%. Losses may be limited as the Federal Reserve is expected to make its first purchases of Treasurys during the trading session. As for economic data, orders for durable goods unexpectedly rose 3.4% in February, a government report showed. Economists surveyed by MarketWatch expected orders to decline 1.2%. Still to come, a separate report will show new home sales will improve to an annualized pace of 323,000 homes last month, analysts predict.
