Government bond yields in both the euro area and the United States climbed on Monday after the U.S. Senate advanced a measure to reopen the federal government, signaling an end to the 40-day shutdown that had been weighing on the economy.

Germany’s 10-year government bond yield (DE10YT=RR) — the benchmark for the euro area — rose 2.5 basis points to 2.699%, reaching its highest level since October 9.

In the U.S., benchmark 10-year Treasury yields (US10YT=RR) increased by 4.5 basis points to 4.139%, while two-year Treasury yields (US2YT=RR) rose by 4 basis points to 3.599%.

“Against this backdrop, bond markets are feeling the pressure with risk sentiment improving and fears about the damage to the economy subsiding,” said Rainer Guntermann, a rates strategist at Commerzbank, referring to optimism following the Senate’s progress toward ending the shutdown.

Guntermann added, “10-year U.S. Treasury yields look set to move toward the upper end of their range, with a slight curve steepening bias,” implying that longer-term yields could rise faster than shorter-term ones.

Earlier, White House economic adviser Kevin Hassett had warned that the U.S. economy’s fourth-quarter GDP could turn negative if the shutdown continued, underscoring the economic toll of the prolonged political deadlock.