U.S. government debt prices traded higher on Tuesday, with investors keeping an eye on the moves seen in the oil price, and digesting key economic data.
The yield on the benchmark 10-year Treasury note sat lower at 1.561 percent, while the yield on the 30-year Treasury bond down at 2.243 percent. Bond yields move inversely to prices.
The oil market was closely watched during Tuesday's trade, with crude futures reacting on Monday and Tuesday to news that leading oil giants Russia and Saudi Arabia had agreed to cooperate on stabilizing the energy market.
U.S. crude last stood in the red, hovering around $44.10 per barrel, while Brent also showed signs of weakness, trading around $46.60.
On the data front, The ISM non-manufacturing PMI index for August came in at 51.4. Economists polled by Reuters expect the index to come in at 55.0, slightly below a July read of 55.5. A number above 50 indicates expansion, while one below 50 shows contraction.
The data will be of key importance for the U.S. as investors are expected to pore over the figures for any indications into how well the U.S. economy is performing, and whether this will boost the chance of an interest rate hike by the Federal Reserve in September. The jobs figure for August came in at 151,000 on Friday, below market expectations.
