The move higher on yield comes as the major U.S. stocks closed lower, giving up sharp gains from earlier in the day in a wild session that saw the Dow Jones Industrial Average travel more than 900 points.
Market sentiment has been hit by a range of negative factors in recent weeks, with investors concerned about an intensifying U.S.-China trade war, cooling global growth and Federal Reserve rate increases.
Yields also rose despite the release of mixed economic data. Consumer spending rose 0.4 percent in September, in line with expectations, according to the Commerce Department. However, that marks the smallest increase in more than a year as wages grew moderately.