U.S. Treasury debt prices eased on Monday on some investor optimism that Washington officials might complete a last-minute deal to avert the “fiscal cliff” of tax increases and government spending cuts that could push the U.S. back into recession.

Treasuries prices rose last week as worries over the impact of the “fiscal cliff” spurred safe-haven buying of U.S. government debt, but a few investors on Monday were betting the government could still come up with a plan to at least temporarily stave off some tax increases and spending cuts.