U.S. Treasury prices surged on Monday, driving yields lower, as investors flocked to the safety of government debt. The move was triggered by mounting uncertainty surrounding the strength of the U.S. economy.

A series of disappointing economic indicators released last week intensified worries that the Federal Reserve might be compelled to moderate its interest rate tightening policy. This fueled speculation that the central bank may soon pause its campaign of raising borrowing costs.

The yield on the benchmark 10-year Treasury note fell to 4.50%, a significant decline from levels seen earlier in the month. The 30-year bond also experienced a notable rally, with its yield dropping to 4.65%.

Analysts pointed to weaker-than-anticipated readings on housing starts and durable goods orders as key factors contributing to the bond market’s strength. These figures suggest a potential slowdown in economic activity, prompting investors to reduce their exposure to riskier assets and seek the relative security of Treasuries.

The shift in market sentiment has also led to increased expectations that the Federal Reserve will adopt a more cautious approach to future interest rate adjustments. Some economists now believe the central bank may even consider cutting rates in the coming months if the economic outlook continues to deteriorate.