U.S. Treasury yields rose modestly on Wednesday after lawmakers approved a deal to avert the fiscal cliff. The agreement, reached after months of negotiations, prevented significant tax increases and spending cuts from taking effect immediately.

The yield on the benchmark 10-year Treasury note climbed to 1.87%, while the 30-year bond yield edged up to 3.07%. Shorter-term yields also saw slight increases.

Analysts noted that while the deal removed some immediate uncertainty, it also created new questions about the future path of fiscal policy. The agreement only delays many of the difficult decisions on spending and taxation, setting the stage for further debates in the coming months.

“The market is still trying to digest the implications of the deal,” said a fixed income strategist at a major investment bank. “There’s a sense that we’ve kicked the can down the road, but we haven’t really solved the underlying problems.”

Investors are also closely watching economic data for signs of how the U.S. economy is performing. Any indications of stronger growth could lead to further increases in Treasury yields, while weaker data could push yields lower.

The Treasury Department is scheduled to auction $24 billion in 10-year notes on Wednesday.