U.S. Treasury yields were lower early Friday as investors continued to assess the state of the U.
S. economy after labor data buoyed sentiment. The yield on the 10-year Treasury was around 4 basis points lower at 3.
9608% at 5:34 a.m. ET, nonetheless holding near the level it was at last Thursday before a weak U.
S. jobs report helped trigger a run of global market volatility. The yield on the 2-year note was near-flat at 4.
065%. Yields and prices move in opposite directions, and one basis point equals one one-hundredth (0.01%) of a percent.
Treasurys Initial claims for unemployment insurance totaled 233,000 in the latest week, the Labor Department reported Thursday, a lower figure than expected. That helped drive the S&P 500 index to its best day since 2022 , also boosting Asia-Pacific and European markets on Friday. Traders meanwhile trimmed bets on a 50 basis point rate cut from the Federal Reserve in September, now pricing in roughly even odds of that or a 25 basis point move lower, according to CME's FedWatch tool.
Fresh data is in short supply until Tuesday, when the core producer price index is due..
