On Monday, U.S. Treasury yields saw a slight increase as investors weighed the economic outlook and the possibility of an end to the Federal Reserve’s interest-rate hiking cycle. The 10-year Treasury yield rose by less than one basis point to 4.9151%, while the 2-year Treasury yield was over three basis points higher at 4.4764%, up from the 4.379% low it briefly touched on Friday.

Investors have been considering the economic outlook and the monetary policy of the Federal Reserve, with the hope growing that the central bank is done hiking rates. Last week, both the producer and consumer price index came in lower than expected, suggesting that inflation is easing and the Fed’s interest rate hikes are having the desired effect of cooling the economy. With the Fed due to meet in December, expectations are for interest rates to remain unchanged. However, many are pondering when the Fed will begin cutting rates, something that Fed officials have not addressed in detail yet.

This month, bond markets will have a shortened week as they will remain closed on Thanksgiving day and close early on Friday.

Furthermore, investors are eagerly waiting for more insight into what drives monetary policy decisions made by central banks around