Treasurys rebounded, with prices lifted by Federal Reserve bond purchases, weakness in stock markets and as a decline in industrial production for May overshadowed a rise in housing starts.

The larger-than-usual buying comes at a time when the market is split on the Fed's next move regarding its Treasurys-buying program ahead of the central bank's rate-policy meeting next week. Policy makers recently signaled they are unlikely to lift the size of the central bank's $300 billion purchase program.

Since launching the program in late March, the Fed has bought more than $160 billion of Treasurys and, on Wednesday, it will conduct another round of buying, this time targeting maturities between seven and 10 years.