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The 10-year US Treasury yield edged down on Friday, but remained above the 1.5% level, ahead of data released later in the morning showing the number of jobs added in February.
The benchmark 10-year T-bill yield fell to 1.545% at 3:30 a.m. ET. The yield on the 30-year Treasury bill slipped to 2.294%. Yields move inversely with prices.
The U.S. Bureau of Labor Statistics is expected to release the February employment report at 8:30 a.m. ET.
Economists expect 210,000 payrolls to have been added in February, down from just 49,000 in January, according to Dow Jones. The unemployment rate is expected to remain at 6.3%.
The 10-year yield hit 1.55% on Thursday following comments from Federal Reserve Chairman Jerome Powell on inflation. Powell has said he expects inflation to rise as the economy recovers, but he believes it will be temporary.
“We expect that when the economy reopens and picks up, we hope, we will see inflation rise thanks to base effects,” Powell said at a Wall Street Journal conference. “This could create upward pressure on prices.”
There is no auction scheduled for Friday.
– CNBC’s Patti Domm and Jeff Cox contributed to this report.
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