The move was a step in the right direction in terms of calming escalating trade tensions between the United States and China, analysts said.

The United States on Tuesday temporarily eased trade restrictions on China's Huawei to minimize disruption for its customers. The US Commerce Department blocked Huawei from buying US goods last week, saying the firm was involved in activities contrary to national security.

Yields on US benchmark 10-year notes and 30-year bonds rose to one-week highs on Tuesday, while those on two-year notes hit two-week peaks.

"This is partly optimism in equities causing a reversal of the moves we saw last week," said Subadra Rajappa, head of US rates strategy at Societe Generale in New York, as well as a reduction in the markets' rate cut forecasts.

"There's optimism about progress in the ongoing US-China trade talks," she added.

In mid-morning trading, US 10-year note yields rose to 2.426pc, up from 2.414pc late on Monday, after earlier hitting a one-week high of 2.435pc.

Yields on US 30-year bonds advanced as well to 2.842pc , up from 2.835pc on Monday. Earlier in the session, 30-year yields touched one-week highs of 2.849pc.

On the short end of the curve, US 2-year yields were up at 2.245pc, compared with Monday's 2.223pc.

US yields, however, briefly slipped after US home sales unexpectedly fell in April amid persistent weakness in the lower-priced segment of the market.

The National Association of Realtors said on Tuesday existing home sales fell 0.4pc to a seasonally-adjusted annual rate of 5.19 million units last month. March's sales pace was unrevised at 5.21 million units.

But Jon Hill, US rates strategist at BMO Capital Markets in New York, said details of the housing report showed a much healthier picture. He cited gains in condominium and co-op sales and smaller declines in existing home sales compared to the previous month.

"All in all, another solid read on the housing market that is consistent with the narrative of stabilization, rebound in the sector," he said.