Updated from 10:44 a.m. ESTTreasuries jumped Tuesday after weaker-than-expected retail sales data tempered the inflation fears that stemmed from a string of robust economic reports at the start of the year. The 10-year benchmark note gained 18/32 of a point to yield 4.69%, and the 30-year bond soared 27/32 to yield 4.71%. The five-year added 13/32 to yield 4.67%, and the two-year rose 5/32 to yield 4.64%. Bond prices and yields move in opposite directions. "We have been leaning a little more towards the bullish side in anticipation of some weakness in the data because we had a very steady stream of strong data from January," says Bulent Baygun, head of U.S. fixed-income strategy at Barclays Capital. "January will turn out to be an aberration driven primarily by very good weather." The Commerce Department said retail sales fell 1.3% last month, compared with economists' consensus expectation for a 0.9% decline. Meanwhile, January's gain was upwardly revised to a 2.9% advance from 2.2%. Sales minus autos fell by 0.4%, nearly in line with Wall Street's estimates for a 0.5% dip. January's sales, excluding car sales, were revised up to 2.6% growth from 2.2%. The bearish numbers were the catalyst the market needed to fire up a rally that bond strategists including David Ader at RBS Greenwich Capital have seen brewing since the yield curve came out of its inversion last Wednesday. Still, Ader says the rally isn't necessarily the start of a bullish trend. "We could readily make strong arguments both ways," he says. Ader says rising prices look like a simple bounce amid oversold conditions, but they could be more meaningful if data come in softer overseas and in the U.S. and if Federal Reserve officials stay away from hawkish statements. A slew of economic reports remain for this week, including Wednesday's readings on foreign Treasury buying and the Fed's "beige book" report on economic activity. The closely watched CPI report, housing starts and industrial-production numbers will be released later in the week.