NEW YORK (CNNMoney.com) -- Treasury prices fell Tuesday as investors awaited the government's $81 billion quarterly refunding and keep a close watch on debt issues in Europe.

What prices are doing: The benchmark 10-year note fell 7/32 to 98-7/32, pushing up the yield to 3.59% from 3.56% late Monday. Bond prices and yields move in opposite directions.

The 30-year bond slipped 10/32 to 97-22/32 and its yield was 4.51%. The 5-year note fell 4/32 to 99 30/32, yielding 2.26%. The 2-year note ticked down 2/32 to trade at 100 4/32, and it yielded 0.79%.

What's moving the market: Market analysts said investors held off on buying Treasurys because they think they're going to get a bargain following the auction.

"Buyers are waiting for the auction and behaving as they would on the weekend before Black Friday," said Michael Cheah, a bond fund manager for SunAmerica, referring to the holiday shopping event on the day after Thanksgiving. "Why buy now if you expect things to go on sale?"

An easing of concern about a possible debt default by Greece also kept prices in check.

Kim Rupert, managing director of fixed income analysis for Action Economics, said that talk of a possible bailout for Greece took away some of the demand for safe haven investments such as U.S. Treasurys.

What's on tap: The Treasury Department will offer $81 billion in new debt this week, beginning with $40 billion of 3-year notes Tuesday.

The government will also offer $25 billion in 10-year notes Wednesday and $14 billion in 30-year bonds on Thursday. The auctions, which make up the government's quarterly refunding, will settle on Feb. 16.

Treasury prices typically fall ahead of government auctions, as investors adjust portfolios for the new supply. But analysts say buyers will demand lower prices, as worries persist over fiscal problems in Greece.

"The extreme anxiety is out of the market, but we're not out of the woods," said Rupert. "Focus will continue to be sovereign debt issues."

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