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NEW YORK (CNNMoney.com) -- Government debt prices rose after three auctions Tuesday, as investors sought safety while the stock market slipped.
The Treasury Department sold $28 billion worth of four-week bills and $25 billion in 1-year bills.
The government also reopened a 10-year TIPS note - which protects investors against inflation - with a $6 billion offering late Tuesday. The Treasury received $13.5 billion in bids.
Stocks fell Tuesday, with the Dow Jones industrial average down almost 200 points with two hours left in the session, as investors feared the start of another grim corporate reporting period.
"Treasurys have reversed yesterday's losses in large part because stocks are under pressure, making investors nervous," said Peter Cardillo, analyst at Avalon Partners.
Stocks and bonds have mostly traded in opposite directions during the recession. Economic confidence leads investors to take on riskier stocks, while fear drives them to safe-haven bonds.
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