U.S. government debt prices were trading near flat on Tuesday as investors eyed rising oil prices and digested the results of a note sale.
The Treasury Department auctioned $34 billion in five-year notes at a high yield of 1.76 percent, its highest level since December.
The bid-to-cover ratio, an indicator of demand, was 2.44, above a recent average of 2.42.
Indirect bidders, which include major central banks, were awarded 59.8 percent, below a recent average of 61 percent. Direct bidders, which include domestic money managers, bought 4.5 percent, also below a recent average of 7 percent.
The yield on the benchmark 10-year Treasury notes, which moves inversely to price, was lower at around 2.312 percent, while the yield on the 30-year Treasury bond was slightly higher near 3.002 percent.
The yield on the two-year Treasury note hit a high of 1.107 percent in early trade, its highest level since April 8, 2010. It last traded near 1.0824 percent.