Treasuries fell as investors considered Fed rate cuts against the end of the longest US government shutdown. Yields rose about two basis points, with the 10-year at 4.11%. The Senate voted to advance a bill to end the shutdown, reopening the flow of official economic data and possibly clarifying the outlook for rate cuts.

Despite decreased odds of a rate cut in December, lower rates over the next year remain likely, driving Treasury yields lower. Yields rose in Asian and European trading, with the 30-year bond reaching its highest level since Oct. 7. Buyers initiated block trades in futures, contributing to the rise.

The shutdown, lasting since Oct. 1, is expected to have impacted economic growth by halting federal spending and worker paychecks. Economic reports, including key employment data, were postponed. Traders foresee a 60% chance of another Fed rate cut next month, with a December rate cut previously fully priced in.

St. Louis Fed President Musalem sees current Fed policy as nearing a level where it won’t push inflation lower. San Francisco Fed President Daly notes a downturn in US economic demand and warns against keeping interest rates high. The Treasury market faces supply pressure from this week’s $125 billion auctions and corporate bond market activity.

Read more at Yahoo Finance: US Treasuries Edge Lower Amid Progress on Ending Shutdown