The yield on the 10-year US Treasury note rose to 4.37% on Wednesday from the near-one-month low of 4.32% earlier in the session as markets assessed the Fed's rate hold, fresh GDP data, debt supply documents, and trade developments. The Fed maintained rates unchanged and refrained from signaling future moves, citing uncertainty on the outlook of the economy, although Bowman and Waller, among the frontrunners to be nominated Chairman next year, dissented for a cut vote. The US GDP expanded by 3% in the second quarter, firmly above market estimates, although the sharp support from net foreign demand due to the unwind of import front-loading distorted the data. Volatile trade figures aligned with tariffs put up by President Trump, who increased levies on India and Brazil. Meanwhile, the Treasury maintained issuance volumes for notes and bonds, but noted it will increase the volume of long-end nominal buybacks and more TIPS buybacks, limiting supply of longer maturity instruments.