Treasury yields fell on Tuesday in a holiday-shortened trading session ahead of the Christmas break.

The 10-year Treasury yield was 12 basis points lower at 4.586%, while the 2-year Treasury yield fell 9 basis points to 4.340%.

One basis point is equal to 0.01%. Yields move in the opposite direction to prices.

Tuesday is expected to be a subdued day for U.S. financial markets, with stock trading closing as early as 1 p.m. ET. The bond market ceases operations at 2 p.m

The markets will be closed on Wednesday for the Christmas holidays.

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