U.S. government debt prices were lower on Tuesday as investors digest fresh economic data.
The Treasury Department auctioned $26 billion in 2-year notes at a high yield of 1.280 percent. The bid-to-cover ratio, an indicator of demand, was 2.85.
Indirect bidders, which include major central banks, were awarded 58.9 percent, well above a recent average of 42.4 percent. Direct bidders, which includes domestic money managers, bought 11.4 percent.
The yield on the 2-year note was 1.266 percent following the sale.
The percentage awarded to indirect bidders was the highest of that group since June 2009, according to BMO. Indirect bidders could be anyone bidding through a dealer, either domestic buyers or foreigners — although historically it has been foreigners.
The yield on the benchmark 10-year Treasury notes, which moves inversely to price, was higher at around 2.338 percent, while the yield on the 30-year Treasury bond was also higher at 2.99 percent.