The 10-year U.S. Treasury yield topped 1.23% early on Friday, ahead of the Labor Department’s highly anticipated jobs report due out later in the morning.
The yield on the benchmark 10-year Treasury note added nearly 2 basis points, rising to 1.236% at 4:10 a.m. ET. The yield on the 30-year Treasury bond climbed by close to 2 basis points to 1.879%. Yields move inversely to prices.
TREASURYS
TICKER COMPANY YIELD CHANGE %CHANGE
US3M U.S. 3 Month Treasury 0.058 0.005 0.00
US1Y U.S. 1 Year Treasury 0.079 0.008 0.00
US2Y U.S. 2 Year Treasury 0.208 0.006 0.00
US5Y U.S. 5 Year Treasury 0.744 0.026 0.00
US10Y U.S. 10 Year Treasury 1.245 0.028 0.00
US30Y U.S. 30 Year Treasury 1.887 0.025 0.00
The Labor Department is due to release its July nonfarm payrolls report at 8:30 a.m. ET.
Economists expect the U.S. economy to have added 845,000 jobs last month, according to estimates from Dow Jones. However, there is uncertainty in the market, as demonstrated by the broad range of forecasts — from 350,000 on the low end to 1.2 million at the top.
Employment data is key to the Federal Reserve’s decision to pare back its bond buying program, beginning the process of tightening its easy monetary policies more broadly and acting as a precursor to the raising of interest rates.
The Labor Department reported on Thursday that 385,000 jobless claims had been filed last week, matching economist forecasts.
This saw the 10-year Treasury yield climb above 1.2% in afternoon trading, having fallen to its lowest point since February on Wednesday, following disappointing employment data from private payroll firm ADP.
