The yield has risen 73.6 basis points over the past seven weeks, according to Dow Jones Market Data. On Friday, traders were considering whether the U.S. is moving into a period of higher-for-even-longer interest rates, fueled by continued economic strength and potential inflationary pressures.

Wall Street's main indexes closed lower on Thursday after Federal Reserve Chair Jerome Powell dampened investors' hopes for another interest rate cut this year by saying the U.S. central bank need not rush to ease monetary policy.

Jerome Powell's hawkish comments are casting a pall on markets as the initial optimism for Donald Trump's policies starts to wear off.

Indexes slipped as traders zeroed in on remarks from Fed Chair Jerome Powell, who said the central bank is in no hurry to cut rates amid a strong economy.

U.S. stock index futures fell on Friday after Federal Reserve Chair Jerome Powell said there was no need to reduce interest rates in a hurry, pushing up bond

Traders see another rate in December as likely after consumer and wholesale inflation this week were in line with expectations.

Federal Reserve Chair Jerome Powell announced on Thursday that the U.S. central bank does not feel pressured to hastily reduce interest rates, given the countrys solid economic growth, a resilient job market,