The Treasury Department auctioned $34 billion in five-year notes at a high yield of 1.218 percent on Tuesday.
The bid-to-cover ratio, an indicator of demand, was 2.29, lower than a recent average of 2.45.
Indirect bidders, which include major central banks, were awarded 57.2 percent, lower than a recent average of 59 percent. Direct bidders, which includes domestic money managers, bought 3.7 percent, lower than a recent average of 8 percent.
Peter Boockvar, managing director and chief market analyst at The Lindsey Group, characterized the auction as "weak." He said that the bid-to-cover ratio was at its "lowest level in almost 7 years."
The yield on the 5-year Treasury note moved higher following the auction to 1.1920 percent. It was last higher at 1.969 percent.
U.S. sovereign bond bond prices were lower Tuesday as safe-haven trades continued to unwind alongside fresh polls that showed positive gains for the remain campaign in Britain's EU referendum.
The yield on the 10-year Treasury note, which moves inversely to its price, moved higher to 1.7051 percent, while the yield on the 30-year Treasury bond was up at 2.5071 percent. Two-year note yields was also higher at 0.7655 percent.