U.S. Treasury yields retreated on Tuesday in a holiday-shortened trading session ahead of the Christmas holiday.

The rate of return is 10-Year Treasury Bond fell 12 basis points to 4.586%, while 2-Year Treasury Bond It fell 9 basis points to 4.340%.

1 basis point equals 0.01%. Yield is inversely proportional to price.

U.S. financial markets are likely to be calm on Tuesday, as stock trading closes early at 1 p.m. ET. Bond market activity ceases at 2 p.m.

Markets will be closed Wednesday for the Christmas holiday.

Economic data released on Tuesday include the Philadelphia Fed’s December non-manufacturing survey and the Richmond Fed’s December survey.