US Treasuries are down as investors wait for job data

US public debt prices rose slightly on Friday morning as investors wait for non-farm payroll data, while trade talks continue between the United States and Mexico.

At approximately 4:00 am ET, the benchmark 10-year Treasury stock price, which moved in the opposite direction of price, was less than 2.11122 percent, while the 30-year Treasury bond yield fell below 2.6134%.

Friday 's payroll figures, expected to be released at 8:30 am (Eastern time), will be critical, with the economy expected to create 180,000 additional jobs in May. If the numbers are much stronger or weaker than expected, it could be a game changer for the markets. US Federal Reserve officials made accommodating comments this week that prompted investors to prepare for a rate cut by the central bank.

As a reminder, the 2-year Treasury note, which closely reflects the policy of the Fed, reported 1.87% Friday morning, well beyond the 2.25% reached in late May. The 10-year yield, the benchmark rate for mortgage and other loans, reached 2.40% last month.

On Wednesday, the May ADP wage report, often considered a forerunner of the government's report, reached a remarkably low level of 27,000 additional jobs in the private sector in May, but was seen as an abnormality.

A number of economists have changed their forecasts over the last week to incorporate two Fed rate cuts this year. This decision was made after President Donald Trump threatened to impose tariffs on all Mexican products, shifting the stock market into unstable territory and forcing the bond market to value itself in a lower interest rate environment. .

On the data front, aside from the non-farm sector, unemployment figures and average hourly earnings for May are to be released at 8:30 am EST on Friday. The April wholesale trade data are expected at 10:00 am ET and consumer credit figures will be released at 3:00 pm ET.

There is no major auction Friday on Treasury bonds.

– Patti Domm of CNBC contributed to this report.

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