U.S. sovereign bond yields gained on Tuesday after a $34 billion auction of five-year notes at a high yield of 1.180 percent.
The bid-to-cover ratio, an indicator of demand, was 2.27, well below a recent average of 2.44 and its lowest level since July 2009.
Indirect bidders, which include major central banks, were awarded 53.6 percent, below a recent average of 59 percent. Direct bidders, which includes domestic money managers, bought 4.7 percent, also below a recent average of 8 percent.
After the sale, the yield on five-year notes held higher on the previous session's close, then reversed last yielding 1.1331 percent. Yields move inversely to bond prices. Benchmark 10-year notes last yielded 1.5595 percent.
This followed a $26 billion auction on Monday of 2-year notes, which met with low demand.