The yield on the US 10-year Treasury note hovered around 4.85% on Friday, remaining close to its lowest levels in two months as mounting global equity market losses boosted demand for safe-haven government bonds. The decline in yields followed a sweeping Democratic victory in the US midterm elections, which heightened concerns over increased regulatory scrutiny of the artificial intelligence industry and a possible slowdown in data center expansion. Meanwhile, investors shifted their focus to Friday’s US employment report for further indications of labor market conditions. Recent data showed that private businesses added 86,000 jobs in October, according to ADP, while initial jobless claims fell to their lowest level in 57 years. Despite the relatively strong employment figures, markets reduced expectations of a Federal Reserve rate hike in December to around 68%, down from nearly 83% a day earlier.