Treasury yields inch higher ahead of pivotal jobs data

By Steve Goldstein

Treasury yields inched higher Friday ahead of September jobs data that could shape expectations for the next Federal Reserve interest-rate decision.

What's happening

-- The yield on the 2-year Treasury BX:TMUBMUSD02Y was 3.72%, up 0.7 basis points. Yields move in the opposite direction to prices.

-- The yield on the 10-year Treasury BX:TMUBMUSD10Y was 3.86%, up 0.7 basis points.

-- The yield on the 30-year Treasury BX:TMUBMUSD30Y was 4.19%, up 0.3 basis points.

What's driving markets

The September U.S. jobs report is due at 8:30 a.m. Eastern, with expectations of a 150,000 increase in payrolls and a steady unemployment rate of 4.2%.

Heading into the data, markets are pricing in a roughly 1-in-3 chance of a second half percentage point rate cut by the Fed in November.

-Steve Goldstein

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10-04-24 0604ET

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