The yield on the US 10-year Treasury note was little changed at 4.93% on Friday, hovering near seven-week lows, as disappointing earnings from major tech companies fuelled a broad sell-off in US technology stocks and renewed concerns about the sustainability of the AI-driven rally, prompting investors to seek the relative safety of government bonds. Meanwhile, data on Thursday showed that the US economy expanded at a stronger-than-expected annualized rate of 3.4% in Q3, supported by robust consumer spending and AI-driven investment. The US PCE price index also increased 0.5% in September, marking its largest monthly gain since March and reinforcing expectations of a Fed rate hike later this year. Although the central bank maintained interest rates at current levels on Wednesday, markets continue to assign roughly a 72% probability of a rate increase in December, according to the CME FedWatch Tool. Considering the October month, the benchmark yield in the US fell about 36bps.