Treasury prices remained higher Wednesday, pushing short-term yields down, after the Commerce Department said the economy shrunk by 6.1% in the first quarter, much more than economists expected. Two-year note yields declined 8 basis points to 0.93%. The calendar is full, with the Treasury Department expected to announce it will auction around $72 billion in debt next week, and possibly announce more issuance of longer-dated debt. Later, the government is selling $26 billion in 7-year notes, and the Federal Reserve Open Market Committee meeting ends. Analysts will be watching for comments on the economic outlook and whether it will change its current program of buying Treasurys and mortgage-related debt to keep a lid on borrowing costs.

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