U.S. sovereign bond prices moved lower Tuesday as investors opted for riskier assets on the back of rising oil prices.
The yield on the benchmark 10-year Treasury note, which moves inversely to its price, moved higher to 1.78 percent, while the yield on the 30-year Treasury bond was higher at 2.5907 percent.
Treasurys
Oil prices staged a turnaround Tuesday, as attention shifted to a Kuwaiti oil worker strike that was putting pressure on global supply, with the country's production drawn down from around 2.8 million barrels per day to 1.5 million.
That comes after a lower close for both WTI and Brent in the previous session, OPEC and non-OPEC producers failed to secure a supply freeze at a meeting in Doha.
U.S. benchmark West Texas Intermediate (WTI) futures snapped a four-day losing streak, settling at $41.08, up 3 percent.
March housing start data showed an 8.8 percent decline, while building permits fell 7.7 percent. Building permit figures were forecast to show a 1.7 percent rise to 1.2 million.