U.S. government debt prices were higher on Tuesday, amid hopes that China would introduce more measures to support its weakening economy.
China's state planner, the National Development and Reform Commission (NDRC), said on Tuesday that it would aim to accomplish "a good start" for the economy in the first quarter, raising hopes of further stimulus.
Chinese Premier Li Keqiang also said that the government was looking to establish conditions to help it meet its economic targets for the year, Reuters reported, citing Chinese state television.
The news offset fears of an impending slowdown in the world's second-largest economy. Data released earlier this week showed that Chinese exports and imports fell sharply in December, while the country's trade surplus with the U.S. reached a record high.