Treasury yields move higher as investors mull uncertainty around peace talks

U.S. Treasury yields moved higher on Tuesday as investors mulled the ongoing uncertainty around the state of negotiations in the Middle East. 

The yield on the 10-year U.S. Treasury note — the key benchmark for U.S. government borrowing — rose 2 basis points to 4.708%.

The 2-year Treasury note yield, which more closely tracks short-term Federal Reserve interest rate policy, rose less than 1 basis point to 4.264%. The longer-dated 30-year Treasury bond yield added 2 basis points to 5.254%.

One basis point is equal to 0.01%, and yields and prices move in opposite directions.

The 30-year Treasury yield is hovering just below its highest level since 2007, as investors reacted to an apparently "hawkish hold" from Federal Reserve interest rate setters last week. 

Yields are struggling for direction as conflicting reports about the progress of U.S.-Iran talks have kept investors on tenterhooks.

President Donald Trump has warned that the latest round of negotiations with Iran is the "last chance" to bring an end to the five-month conflict.

However, Tehran continues to deny that any direct negotiations with the U.S. are taking place — or that there are plans to hold them in the future.

Economic data set for release on Tuesday include JOLTs job openings as well as international trade figures for the month.

— CNBC's Mike Sheen also contributed to this report.