The yield on the 10-year Treasury moved higher on Friday, after hitting a three-month high earlier this week.
The benchmark 10-year Treasury yield was more than 3.5 basis points higher at 4.24%, after reaching 4.25% on Wednesday. The 2-year Treasury was nearly 4 basis points higher at 4.105%.
Yields move inversely to prices. One basis point equals 0.01%.
Traders have been monitoring commentary and remarks by Federal Reserve policymakers this week reflecting on September's jumbo 50-basis-point interest rate cut and the potential path for future monetary policy.
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Their tone has broadly been more cautious, with Beth Hammack of the Cleveland Fed on Thursday cautioning, "We are not saying mission accomplished when it comes to inflation." Others have stated the need to be "cautious and deliberate" and "patient" with further cuts.
Market pricing based on 30-day fed funds trading puts a 97% probability on the Fed cutting rates by 25 basis points, or a quarter percentage point, in November, according to the CME's FedWatch Tool.
