The 10-year Treasury yield remained relatively stable on Friday, despite reaching a three-month high earlier in the week.

The 10-year Treasury yield remained unchanged on Friday, following a three-month high earlier in the week.

The benchmark yield was 0.75% lower than the previous day at about 4.2%, after breaching 4.25% on Wednesday. The yield was 0.036% lower at 4.064%.

Yields move inversely to prices. One basis point equals 0.01%.

Federal Reserve policymakers' commentary on September's 50-basis-point interest rate cut and the potential future path has been closely monitored by traders this week.

The tone of their statements has been more cautious, with Beth Hammack of the Cleveland Fed on Thursday warning "We are not declaring victory over inflation yet." Others have emphasized the need to be "prudent and measured" and "patient" with any further rate cuts.

According to CME's FedWatch tool, there is a 97% chance that the Fed will cut rates by 25 basis points in November due to market pricing.