TREASURIES-Longer-dated yields rise before Fed rate decision

Longer-dated U.S. Treasury yields rose on Wednesday, ahead of a closely-watched Federal Reserve decision at the conclusion of its two-day policy meeting, where it is expected to keep interest rates steady. Benchmark 10-year notes rose 6 basis points to 4.9350% and last settled at 4.9264%, having last week hit 16-year highs as investors adjust for the likelihood that the U.S. central bank will hold rates higher for longer and on concerns about increasing U.S. Treasury supply. The Fed is also seen as unlikely to raise rates further unless inflation shows signs of reaccelerating.