U.S. Treasury yields ticked upward Friday ahead of the release of U.S. non-farm payrolls, while many markets were closed for the Easter holiday. U.S. markets are trading on a half day. Investors will be assessing labor market data to monitor potential reactions from the Fed and the possibility of a recession.
The yield on the benchmark 10-year Treasury note was higher by 1.5 basis points at 3.305%, while the 2-year rate was 1.8 basis points higher at 3.839%.
Yields move inversely to prices.
Recent weak U.S. data is driving fears of a slowdown. The U.S. jobs report and unemployment rate are set for release Friday, but, with many markets closed or on a half day, reactions may be muted.
Signs of a cooling economy so far include weaker figures on private payrolls and the U.S. services sector, revealing a hiring slowdown and spurring speculation among traders that the Fed may pause its rate hike cycle next month.
The Labor Department reported Thursday that jobless claims for the week ending on April 1 came in at 228,000, suggesting pressure is building on the labor market. Economists expected the figure to be at 200,000, according to a Dow Jones Survey.
