U.S. government bond yields rose for a fourth session on Tuesday, getting a lift from unexpectedly strong data showing that home building remains a bright sector in the slowing U.S. economy.
Treasurys prices were already down before the housing data in a selling trend that began last week but has left yields well within recent ranges, according to senior bond strategist Ian Lyngen at CRT Capital.
"You can make a solid argument that Treasurys are trading with the European bonds," he said. European government bonds were also off in price on Tuesday.
Yields on the 30-year Treasury moved the most on Tuesday and last traded at 2.92 percent. That reflected a price decline of 26/32 but left the maturity's yield below the month's high of 2.97 percent hit Oct. 9.
The bellwether 10-year Treasury was last down 11/32 in price and yielded 2.06 percent.