US 10-Year Yield Holds Steady at 4.67% Amid Interest Rate Hopes

The US Treasury yield on the 10-year note held its advance to around 4.67% on Friday, despite rising for two consecutive sessions.

This came as investors waited for Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole symposium later in the day for clues about the outlook for US interest rates.

The Treasury yields also found support from a hotter-than-expected US inflation reading this week, which strengthened expectations for a Fed rate increase before year-end. The probability of a hike by December remains above 70%.

Kansas City Fed President Jeff Schmid said monetary policy is not restraining the economy, while investors continued to assess the implications of the US Treasury's expanded debt buyback program.