U.S. sovereign bond yields fell on Tuesday amid a slew of economic data and after another round of bond auctions, which gave prices a boost on Monday.
The Treasury Department auctioned $35 billion in 5-year notes Tuesday at a high yield of 1.67 percent.
The bid-to-cover ratio, an indicator of demand, was 2.52.
Indirect bidders, which include major central banks, were awarded 56.7 percent, below a recent average of 60 percent. Direct bidders, which includes domestic money managers, bought 10.1 percent, above a recent average of 6 percent.
"The auction was a non event and yields at or near multi year highs didn't bring out demand of substance today or yesterday for the likely reason that the path of rate hikes in 2016 is completely up in the air," Peter Boockvar, chief market analyst at The Lindsey Group, said in a note.
On the data front, the U.S. economy grew at a healthier clip in the third quarter than initially thought, growing at a 2.1 percent rate.