February 20, 2013 / 7:16 PM / 5 years ago

TREASURIES-Bond prices trim gains after FOMC minutes

NEW YORK, Feb 20 (Reuters) - U.S. government debt prices pared earlier gains on Wednesday after the record on the Federal Reserve’s January meeting showed policy-makers held further discussions on slowing or stopping purchases of bonds.

The Fed’s combined buying of Treasuries and mortgage-backed securities, currently $85 billion a month, has propped up bond prices and reduced borrowing costs for consumers and companies.

The U.S. central bank’s third round of quantitative easing is aimed at reducing unemployment and supporting the economy.

Benchmark 10-year Treasuries notes last traded down 2/32 in price for a yield of 2.036 percent. Shortly before the release of the minutes of the Federal Open Market Committee, the U.S. central bank’s policy-setting group, the 10-year notes were 4/32 higher in price with a 2.014 percent yield.

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