A global bond selloff is steadying this morning, giving U.S. stocks some relief.

The 10-year U.S. Treasury yield has retreated from a weekly intraday high of 5.224%. Borrowing costs have also mostly slipped across Europe and Asia, while the dollar is on track to break five straight days of gains.

Helping drive the moves is a retreat in oil prices, which have played a big role in how bonds have traded this week. The most actively traded Brent crude futures, for December delivery, have slipped following reports Thursday that U.S. and Iranian negotiators in New York are discussing a deal to reopen the Strait of Hormuz.

Despite the quieter mood today, yields are still ending the week far higher than where they started. The 10-year yield has climbed 16 basis points just this week and is still hovering at 19-year highs.

Both the S&P 500 and Nasdaq are headed for weekly gains, while the Dow is on track for a loss.