U.S. Treasurys steadied on Friday, as bond markets remained on edge after yields surged to multiyear highs during Thursday's session.

The 10-year U.S. Treasury note yield —the key benchmark for mortgage borrowing, auto loans and credit card debt — was flat in early trade at 4.9424%.

The longer-dated 30-year Treasury bond yield, which is more sensitive to geopolitical risks, was also holding steady, at 5.3554%.

The 2-year Treasury note yield, which tends to react in line with short-term Federal Reserve interest rate decisions, was also largely unchanged at 4.5598%.

One basis point is equal to 0.01%, and yields and prices move in opposite directions.

Treasurys were taking a breather following a sharp sell-off in the previous session, as U.S. oil prices topped $100 a barrel amid further escalation in the Middle East.

Meanwhile, the Treasury Department bought back about $5.2 billion in off-the-run 10- and 20-year notes Thursday — roughly half of the $10.5 billion offered — dialing up the selling pressure on bonds.

The 10-year note yield jumped 11 basis points during the day, touching 4.954% — its highest level since October 2023.

With next week's Federal Reserve interest rate decision fast approaching, investors are closely watching the latest U.S. consumer price data print, due later Friday, for insights into the U.S. inflation backdrop.

It follows August's wholesale inflation report, which showed prices rose 0.4% last month, in line with consensus estimates. Removing food and energy, core inflation moved 0.2% higher for the month, below forecasts of 0.3%.

Oil prices remained above $100 a barrel Friday. West Texas Intermediate futures were last seen trading at $101.14, despite dipping 1.34%. Brent crude, the international benchmark, was 1.61% lower at $105.94 a barrel.