U.S. government debt yields fell Tuesday after Congressional leaders reached a temporary deal to keep the government open until Feb. 8.
The yield on the benchmark 10-year Treasury note fell to 2.628 percent at 1:06 p.m. ET, while the yield on the 30-year Treasury bond also slipped to 2.903 percent. Bond yields move inversely to prices.
Over the weekend, the U.S. government shut down after a bill that would have kept it funded was voted down in the Senate. This marked the first U.S. government shutdown since 2013.
Shutdown concerns lingered on Wall Street on Monday; however, by the end of yesterday's trade, the Dow, S&P 500 and Nasdaq composite all hit all-time highs after news emerged that the Senate had enough votes to end the shutdown.
During yesterday's session, members of the Senate managed to secure a temporary arrangement to keep the U.S. government open until February 8. The chamber passed a stopgap bill by a margin of 81-18.
The Treasury Department auctioned $26 billion in 2-year notes at a high yield of 2.066 percent. The bid-to-cover ratio, an indicator of demand, was 3.22. Indirect bidders, which include major central banks, were awarded 58.3 percent.
Direct bidders, which includes domestic money managers, bought 15.9 percent.
Chicago Fed President Charles Evans is expected to deliver remarks at the introduction for Michael Moskow, during the Chicago Council of Global Affairs conference on "The Future of Monetary Policy: Embracing the Unconventional" in Chicago. Moskow is the vice chair at the Chicago Council on Global Affairs.
Elsewhere, investors will be looking to the (WEF), which kicks off Tuesday, for any key remarks about the state of global growth and the U.S. economy. On Thursday, the European Central Bank will be delivering its latest monetary policy decisions.