The yield on the US 10-year Treasury note held around 5.23% on Friday, holding a pullback from 24-year highs following a well-received 30-year bond auction, suggesting investors remain willing to purchase long-dated government debt despite the recent market selloff. Investors also weighed easing oil prices after President Donald Trump said the US was engaged in “productive discussions” with Iran and would refrain from attacking the country before the midterm elections. Meanwhile, markets are pricing in roughly an 82% chance that the Federal Reserve will leave interest rates unchanged this month, while the probability of a December rate hike stands at around 81%. On Thursday, Fed Governor Christopher Waller said additional rate increases would likely be needed to bring inflation back to the central bank’s 2% target. However, he emphasized that policymakers had “flexibility” over the pace of tightening, leaving open the possibility of a pause at the Fed’s upcoming October meeting.