The benchmark 10-year US Treasury yield fell below 5% on Thursday for the first time in a month, as investors sought safety amid concerns over the massive debt taken on by technology companies to finance AI network build-outs. Tech stocks sank, and bond yields on outstanding tech debt rose.

On Friday, the 10-year yield rose by 4 basis points to 4.997%. The 2-year Treasury yield increased by 5 basis points to 4.692%, and the 30-year yield was up 3 basis points to 5.31%.