U.S. government debt prices were lower on Tuesday, as investors digested another set of speeches from Federal Reserve members, alongside a three-year notes sale.
The Treasury Department auctioned $24 billion in three-year notes at a high yield of 1.572 percent. The bid-to-cover ratio, an indicator of demand, was 2.76.
Indirect bidders, which include major central banks, were awarded 50.8 percent. Direct bidders, which includes domestic money managers, bought 9.3 percent.
The three-year note yield traded at 1.549 percent shortly after the sale.
Meanwhile, Boston Fed President Eric Rosengren said in a speech that unemployment in the United States has dropped below its natural equilibrium and could overheat the economy
and prompt faster interest-rate hikes if it were to drop below 4 percent.
Dallas Fed President Robert Kaplan is set to appear at the Dallas Regional Chamber Lower Middle Market Investment Summit.
Minneapolis Fed President Neel Kashkari spoke at the Minnesota High Tech Spring Conference in Minneapolis, saying that blockchain technology has more potential for being adopted in the future than bitcoin itself.