U.S. Treasury yields were little changed on Friday as investors awaited the all-important October jobs report and digested key economic data released throughout the week.
At 7:06 a.m. ET, the yield on the 10-year Treasury was up by less than 1 basis point at 4.289%. The 2-year Treasury yield was last trading at 4.187% after rising 2 basis points.
Yields and prices move in opposite directions. One basis point equals 0.01%.
Treasurys
Economists polled by Dow Jones are expecting nonfarm payrolls to have increased by 100,000 which would be the smallest rise in almost four years. In September, payrolls had surged by 254,000. The unemployment rate is expected to remain at 4.1%.
The data from the Bureau of Labor Statistics will come after payrolls processing firm ADP said earlier this week that private payrolls rose by 233,000 in October, which was far higher than September’s reading and the estimate for October.
Also on Friday, fresh insights into the state of the manufacturing sector are expected.
Investors this week have weighed a series of key economic reports published throughout the week, including Thursday’s personal consumption expenditures price index, the Federal Reserve’s favored inflation gauge.
The index rose 2.1% in September on an annual basis and 0.2% from the previous month. Both of those readings were in line with expectations of economists polled by Dow Jones.
The PCE was the last key inflation insight due to be published before the Fed makes its next interest rate decision on Nov. 7. LSEG data showed that markets were last widely pricing in a 25-basis-point rate cut from the central bank then.