Treasury prices rose Tuesday, pushing yields lower, as weakness in equities stemming from anxiety before first-quarter earnings start made the safety of bonds a bit more attractive.
Two-year note yields (UST2YR) fell 4 basis points, or 0.03%, to 0.90%. Yields move in the opposite direction of prices.
Ten-year note yields (UST10Y) declined 3 basis points to 2.90%.
With little other data or official speeches on the schedule, "the market will likely give equities their due," said RBS Greenwich Capital.
Ten-year note yields also were correcting lower after being oversold to reach above 2.92%, an important technical level, said John Spinello, Treasury strategist at Jefferies & Co., in emailed comments.
Gains were limited as the Treasury plans to sell $6 billion in inflation- indexed 10-year securities, with bids due at 1 p.m. eastern time.
Also up for sale today are $28 billion in 4-week bills (UST1MO) and $25 billion in 1-year bills (UST1YR).
The government will also sell $35 billion in 3-year notes (UST3YR) on Wednesday, followed by $18 billion in 10-year notes on Thursday.
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