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US Treasury yields rise as investors pivot focus to key Fed speeches

U.S. government debt yields rose Friday, as investors switched focus to news and remarks coming out of the U.S. Federal Reserve, including a speech by the Fed Chair.

The yield on the benchmark 10-year Treasury note sat higher at around 2.374 percent at 12:19 p.m. ET, while the yield on the 30-year Treasury bond was up at 2.894 percent. Bond yields move inversely to prices.

Earlier, the 10-year Treasury note yield neared a high of session of 2.383 percent, which would be its highest level since Oct. 6 when the 10-year note yielded as high as 2.402 percent.

U.S. Markets Overview: Treasurys chart

The U.S. central bank took center stage for investors in the bond market Friday, as discussion of future job roles at the institution coincides with key speeches by officials on the last trading day of the week.

The main Fed event that investors will be turning to is that of Fed Chair Janet Yellen's speech later on in the day. Yellen will be in Washington on Friday, where she is expected to attend the National Economists Club Herbert Stein Memorial Lecture and Annual Dinner and give a speech on monetary policy since the financial crisis.

Meanwhile, the question of who will take on the position of chair at the Federal Reserve next year continues to keep investors on edge this trading day.

In the latest surrounding the subject, U.S. President Donald Trump has reportedly completed interviews with all five of the candidates that he's considering for the role, including current Chair Janet Yellen. A decision that could potentially even be announced next week, Reuters reported Thursday citing a source familiar with the matter.

Elsewhere, the U.S. Senate passed a budget proposal Thursday night that allowed Republicans to move closer to eventually passing tax reform. The measure was passed with a vote of 51-49.

Looking to data, existing home sales figures for September are set to be published at 10 a.m. ET.