U.S. government debt prices fell on Tuesday as investors kept an eye on wild fluctuations in the oil markets.
The yield (which has an inverse relationship to the price) on the benchmark 10-year Treasury note sat higher, at 1.788 percent, while the yield on the 30-year Treasury bond was also higher, at 2.658 percent.
Traders in the U.S. are back at work Tuesday after Presidents Day, with the oil price fluctuating during the session.
Overnight, oil prices rallied on hopes of a production cut with the world's biggest oil producers — including Saudi Arabia and several key OPEC members — meeting in Doha. However, the commodity erased those gains as traders were left disappointed at a announcement that the producers had frozen output at January levels.