The U.S. Treasury’s 10-year yield fell slightly on Friday, but remained above the 1.5% level, ahead of data released late in the morning, showing the number of jobs added in February.
The yield on the 10-year reference Treasury note fell to 1.545% at 3:30 ET. Yield on 30-year Treasury bonds fell to 2.294%. Yields move inversely to prices.
The U.S. Department of Labor Statistics is due to release the February employment report at 8:30 am Eastern Time.
Economists expect to see 210,000 payrolls added in February, compared to just 49,000 in January, according to Dow Jones. The unemployment rate is expected to have remained at 6.3%.
The 10-year yield reached 1.55% on Thursday, after comments by Federal Reserve Chairman Jerome Powell on inflation. Powell said he expects inflation to rise as the economy recovers, but thinks it will be temporary.
“We hope that as the economy reopens and, hopefully, recovers, we will see inflation rising through the base effects,” Powell said during a Wall Street Journal conference. “This could create some upward pressure on prices.”
There are no auctions scheduled for Friday.
– Patti Domm and Jeff Cox of CNBC contributed to this report.