As investors waited for information on consumer inflation predictions, bond rates modestly declined on Monday.

Around 4:15 a.m., the yield on the standard 10-year Treasury note was 1 basis point lower and trading at 3.3098%. ET. The 30-year Treasury bond’s yield decreased by less than one basis point to 3.4527%.

Just 1 basis point lower, at 3.5548%, was the yield on the 2-year Treasury. A basis point is equivalent to 0.01%, and yields move inversely to prices.

The New York Fed’s Survey of Consumer Expectations, which details consumer expectations for overall inflation and price trends for goods including food, housing, petroleum, and education, will be closely watched by the markets. Additionally, it provides insight into potential job growth and pay growth.

Some investors’ concerns about fast rate hikes diminished as markets rose on Friday, with the S&P 500 surpassing where it ended on the day Federal Reserve Chair Jerome Powell warned of future suffering during the Fed’s Jackson Hole meeting. Although U.S. consumption is still strong, growth is sluggish, and the global economic slowdown has many people concerned about a possible recession.

Recent data suggests that inflation is slowing down, but consumers continue to face hardships. According to the personal finance website WalletHub, about a third of Americans are having trouble paying their energy bills.

Bond auctions for the three-year, ten-year, three-month, and six-month bills are due on Monday.