The yield on the US 10-year Treasury note held around 4.94% on Friday after losing almost 10 basis points in the previous session, retreating from 19-year highs as softer oil prices eased inflation concerns. Oil prices fell for a third consecutive session as Saudi Arabia took steps to resume flows through its East-West pipeline, while President Donald Trump is expected to meet with Gulf leaders next week. Markets also continued to assess the Federal Reserve’s policy direction after the central bank raised interest rates by 25 basis points this week, marking its first hike in three years. The Fed indicated that additional tightening could be pursued later this year to curb persistent price pressures, with Chair Kevin Warsh emphasizing that inflation remains elevated. The Bank of Japan is likewise expected to increase rates, while the Bank of England kept borrowing costs unchanged on Thursday but warned that a prolonged Middle East conflict could eventually prompt further tightening.