U.S. government debt prices were lower early Friday, ahead of nonfarm payrolls data which will be closely watched for further signs of the coronavirus’ impact on the U.S. economy.
At around 4 a.m. ET, the yield on the benchmark 10-year Treasury note ticked higher to 0.6354% and the yield on the 30-year Treasury bond was up slightly at 1.3219%. Yields move inversely to prices.
The U.S. employment report for April will be published at 8:30 a.m. ET Friday. Economists expect that more than 20 million jobs were lost last month, according to Dow Jones.
It follows separate, dismal jobs data released Thursday. Weekly jobless claims data showed more than 33 million Americans have filed for unemployment benefits over the seven-week period ending May 2.