On Tuesday morning, Bond prices extended losses after a report showed U.S. home resales hit a one-year high in September, blowing past Wall Street expectations.
Existing home sales gained 2.4 percent to an annual rate of 5.17 million units, the highest level since September 2013, according to the National Association of Realtors. Analyst had expected the figure to rise at a 5.10 million unit pace.
Yields on benchmark 10-year Treasury notes stood at 2.215 percent on Tuesday afternoon, up from Monday's close of 2.183 percent.
The 30-year bond fell 20/32 in price to yield 2.999 percent in afternoon trading.
Prices and yields are inversely related.
Data on Tuesday showed that China's gross domestic product (GDP) grew 7.3 percent year-on-year in the July-September period, the slowest pace in nearly six years. Still, the figure was above forecasts for a 7.2 percent rise. The data could fuel fears that the second-largest economy in the world is slowing down which could potentially harm the U.S. and European economies.
Wednesday at 8:30 AM, the Bureau of Labor Statistic's Consumer Price Index for September 2014 will be released.