NEW YORK (CNNMoney.com) -- Treasurys advanced Tuesday as stocks recovered earlier losses and trading volume remained low following a long holiday weekend.
What prices are doing: The benchmark 10-year note rose 29/32 to 102-2/32, driving the yield down to 3.26% from 3.3% on Friday. Bond prices and yields move in opposite directions.
The 30-year bond inched up 1-12/32 to 103-13/32 with a 4.18% yield, while the 2-year note added 6/32 to 99-31/32 with a 0.77% yield. The 5-year note rose 21/32 to 100-11/32 with a yield of 2.06%.
What's moving the market: Treasury prices gained as stocks retreated and trading volume remained thin.
Treasurys are viewed as low-risk investments since they are backed by the U.S. government and are particularly attractive during times of economic uncertainty.
After an early market close on Friday and a long Memorial Day weekend, traders are reflecting on the previous month and positioning themselves for June, said Jim Vogel, head of debt research at FTN Financial.
"It looks like people made their final trades on Thursday of last week," he said. "And if anyone is in the office today, they're probably still looking at final reports or beginning reports."
In early afternoon trading, the volume of transactions was not even at the level it typically reaches in overnight trading, said Vogel, and he doesn't expect trading volume to return to normal levels until midday Wednesday.
Until then, prices may remain higher as investors continue to focus on longer term issues, he said.
Worries about the euro zone's debt crisis have continued to boost Treasurys, with prices ending higher in the previous week as stocks slid and rating agency Fitch slashed Spain's debt rating to a lower investment grade on Friday.
In addition to overseas debt, BP's (BP) inability to stop the oil spill in the Gulf of Mexico -- the worst in U.S. history -- may also help keep Treasury prices higher, said Vogel.
"Things like this are really keeping people on the sidelines right now and keeping prices where they are," he said. 
| Overnight Avg Rate | Latest | Change | Last Week |
|---|---|---|---|
| 30 yr fixed | 3.80% | 3.88% | |
| 15 yr fixed | 3.20% | 3.23% | |
| 5/1 ARM | 3.84% | 3.88% | |
| 30 yr refi | 3.82% | 3.93% | |
| 15 yr refi | 3.20% | 3.23% |
Today's featured rates:
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 32,627.97 | -234.33 | -0.71% |
| Nasdaq | 13,215.24 | 99.07 | 0.76% |
| S&P 500 | 3,913.10 | -2.36 | -0.06% |
| Treasuries | 1.73 | 0.00 | 0.12% |
| Company | Price | Change | % Change |
|---|---|---|---|
| Ford Motor Co | 8.29 | 0.05 | 0.61% |
| Advanced Micro Devic... | 54.59 | 0.70 | 1.30% |
| Cisco Systems Inc | 47.49 | -2.44 | -4.89% |
| General Electric Co | 13.00 | -0.16 | -1.22% |
| Kraft Heinz Co | 27.84 | -2.20 | -7.32% |
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