Treasury yields fall slightly but 10-year rate holds above 1.5%

U.S. Treasury yields fell slightly on Thursday, but the 10-year rate held above the 1.5% mark, as investors remained focused on jobs data.

The yield on the benchmark 10-year Treasury note fell less than a basis point to 1.516% at 3:45 a.m. ET. The yield on the 30-year Treasury bond gave up less than basis point, falling to 2.069%. Yields move inversely to prices and 1 basis point is equal to 0.01%.

US3M U.S. 3 Month Treasury 0.053 0.007 0
US1Y U.S. 1 Year Treasury 0.096 0.005 0
US2Y U.S. 2 Year Treasury 0.3 0.004 0
US5Y U.S. 5 Year Treasury 0.989 0.004 0
US10Y U.S. 10 Year Treasury 1.526 0.002 0
US30Y U.S. 30 Year Treasury 2.082 0.005 0

ADP’s monthly employment change report, published Wednesday, showed that private jobs rose by 568,000 in September. This was well above the expected reading of 425,000 new jobs and up from the August print of 374,000.

Investor attention will now turn to Friday’s nonfarm payrolls report, due out at 8:30 a.m. ET on Friday. The data is monitored by the Federal Reserve, as it mulls when to pull back its emergency pandemic stimulus measures, though the central bank has said it will look to wind down its bond-buying program soon.

On Thursday, weekly jobless claims data is set to be released at 8:30 a.m.

August’s consumer credit data is then due out at 3 p.m. ET.

Auctions are scheduled to be held on Thursday for $10 billion worth of four-week bills and $25 billion worth of eight-week bills.

On Wednesday, Senate Minority Leader Mitch McConnell offered a short-term suspension of the U.S. debt ceiling to avert a national default and economic crisis, which economists have warned could be disastrous. On Tuesday, Treasury Secretary Janet Yellen warned that they U.S. should “fully expect” a recession if that happens.

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