U.S. Treasury yields were higher on Friday as investors awaited the release of key labor market data that could provide fresh hints about the state of the economy and the outlook for interest rates.
At 3:13 a.m. ET, the yield on the 10-year Treasury was up by over two basis points to 4.3025%. The 2-year Treasury yield was last at 4.7421% after rising by more than two basis points.
Yields and prices have an inverted relationship. One basis point equals 0.01%.
Investors awaited the release of May’s nonfarm payrolls report as they considered the state of the labor market. Economists surveyed by Dow Jones are expecting payrolls to have increased by 190,000. That would be above April’s 175,000.
This comes after ADP’s private payrolls report showed that companies added 152,000 jobs in May, below the 175,000 estimate.
Along with nonfarm payrolls, the latest wage growth data will also be released Friday. Economists are expecting that wages grew…
