Home Business U.S. Treasury yields edge higher ahead of jobs report

U.S. Treasury yields edge higher ahead of jobs report

by Sakuragun Chan

U.S. Treasury yields rose slightly on Friday morning, with investors looking ahead to new jobs figures for the month of March.

The yield on the benchmark 10-year Treasury note climbed to 1.6806% at around 6 a.m. ET. The yield on the 30-year Treasury bond rose to 2.3416%. Yields move inversely to prices.

The Treasury market is due to close early due to the Good Friday holiday, but the key March jobs report will be released.

Economists expect 675,000 jobs were added in March, and the unemployment rate fell to 6% from 6.2%, according to Dow Jones.

On Thursday, investors juggled a handful of economic data as well as the aftermath of President Joe Biden’s announcement about a $2 trillion infrastructure bill.

First-time claims for jobless benefits were higher than expected last week, with 719,000 more workers heading to the unemployment line, the Labor Department reported Thursday. The total compared to the 675,000 estimate from Dow Jones and was above last week’s downwardly revised 658,000.

Biden unveiled the infrastructure and economic recovery package on Wednesday evening. Biden’s plan included spending on transportation, broadband and affordable housing.

—CNBC’s Maggie Fitzgerald and Vicky McKeever contributed to this article.

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