NEW YORK, Oct 20 (Reuters) - Some investors believe a bond market selloff that has pushed the benchmark U.S. Treasury yield to 5% may have more room to run, as the Federal Reserve gives little indication of veering from its "higher for longer" mantra.

Fed Chair Jerome Powell walked a narrow line in his speech before the New York Economic Club on Thursday, saying the stronger-than-expected economy might warrant tighter financial conditions while also noting emerging risks and a need to move with care.

READ MORE: Relentless climb in Treasury yields may have further to run after surging to 5%