The yield on the 10-year US Treasury note held above 5.1% on Friday, hovering at three-week highs amid growing expectations for a faster pace of Federal Reserve policy tightening. The upward move followed hotter-than-expected US consumer inflation data and hawkish remarks from Fed officials, with some policymakers suggesting that a larger 50-basis-point rate increase may be needed to bring inflation under control. Markets are currently pricing in around an 85% probability of a 25-basis-point rate hike in December, while the likelihood of a larger 50-basis-point increase stands at around 15%. Investors are also increasingly anticipating further rate hikes next year. Market participants are now awaiting US PPI data for additional insights into inflationary pressures. Meanwhile, oil prices rebounded as President Donald Trump declared that the US no longer needs a deal with Iran, adding to upward pressure on Treasury yields.