The 10-year Treasury yield decreases as investors contemplate if the Fed will continue increasing interest rates.

On Thursday, the 10-year U.S. Treasury yield decreased following the Federal Reserve's decision to maintain rates.

The benchmark yield dropped by approximately 11 basis points from 4.678% to 4.983%.

An inverse relationship exists between yields and prices, with one basis point equivalent to 0.01%.

The Fed on Wednesday kept interest rates steady for a second time in a row, indicating that those moves come after further signs of softening in inflation and the labor market Thursday morning suggested the Federal Reserve could be done raising rates this year.

In the third quarter, labor costs unexpectedly decreased by 0.8% instead of the predicted 0.7% increase, as indicated by economists surveyed by Dow Jones.

The number of weekly jobless claims increased to 217,000 for the week ending Oct. 28, surpassing the previous week's 210,000 and the 214,000 consensus estimate from Dow Jones.

In a press conference following the Wednesday meeting, Jerome Powell, the Fed Chairman, did not definitively rule out the possibility of another interest rate increase in December, stating that rate cuts are currently not being considered.

He stated that reducing inflation sustainably to 2% would require a significant effort.

On Wednesday, the Fed announced that economic activity expanded at a strong pace in the third quarter, and that labor market gains remained strong despite easing slightly. Earlier this month, Powell stated that economic growth likely needed to slow in order for inflation to fall to the Fed's 2% target.