The 10-year Treasury yield experiences a slight increase on Thursday, but finishes November with a significant decrease.

On Thursday, U.S. Treasury yields increased slightly, but finished November below the high levels achieved in October.

On Wednesday, the yield rose nearly 7 basis points to 4.34%, after having fallen below 4.3% for the first time since September. The yield had hit its lowest level since mid-July on Wednesday.

When bond prices increase, yields decline, with one basis point equal to 0.01%.

The Commerce Department reported that the October personal consumption expenditures price index, excluding food and energy prices, rose 3.5% on a year-over-year basis, a slowing from a 3.7% annual gain in the prior month.

The Federal Reserve's rate-hiking cycle may be coming to an end, as investors have recently grown hopeful that the Fed will be done with it. Fed Governor Christopher Waller stated on Tuesday that he is becoming more confident that the current policy is well-positioned to slow the economy and bring inflation back to 2%.

The Fed is predicted to keep interest rates at 5.25%-5.50% during its December meeting, while investors also anticipate the central bank to give insights about its policy direction for the upcoming year. However, Fed officials have not yet commented on this matter, and Fed Chairman Jerome Powell has stated that rate cuts were not discussed at the last meeting of the central bank.

— CNBC’s Jeff Cox contributed to this report.