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U.S. Treasury yields showed little direction early Friday ahead of the monthly employment report that could show if the American labor market’s recovery is continuing apace.
What are Treasurys doing?
The 10-year Treasury note yield TMUBMUSD10Y, 0.536% ticked 0.5 basis point lower to 0.531%, while the 2-year note rate TMUBMUSD02Y, 0.117% stood at 0.117%. The 30-year bond yield TMUBMUSD30Y, 1.206% retreated 1.4 basis points to 1.187%.
What’s driving Treasurys?
All eyes were on the July jobs report due at 8.30 a.m. ET as analysts remain uncertain how the U.S. economic recovery is faring at the start of the third quarter. Rising coronavirus cases across several states has stalled economic activity as local governments reassert restrictions on social activities.
