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US Treasurys erase gains after Fed official's remarks

Bond traders at CME Group
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U.S. government debt prices were lower on Tuesday morning as investors digested remarks made by a top Federal Reserve official.

Chicago Fed President Charles Evans said in a speech he sees strong economic growth.

Evans, a nonvoting member of the Fed's policymaking committee, also said the Fed held off raising rates because it saw more risks to the outlook in March than it had back in December. That was when it raised rates for the first time in nearly a decade and signaled it could raise rates four more times this year.

The yield on the benchmark 10-year Treasury note rose to 1.933 percent, while the yield on the 30-year Treasury bond was flat, near 2.715 percent.

Earlier, Treasury prices were higher as investors reacted to reports of a series of explosions in the Belgian capital Brussels.

The Belgian ministry of health said the airport bombing had killed 11 people and left 81 injured.

Yvan Mayeur, the mayor of Brussels, said 20 people were believed dead and 106 more injured in the metro bombing, according to reports.

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In oil markets, Brent crude traded 0.22 percent higher at $41.63 a barrel, while U.S. crude was at $41.33, down 0.46 percent.

Philadelphia Fed President Patrick Harker is due to speak later on Tuesday.

— Reuters contributed to this report.