Treasury yields fall ahead of key jobs report; stimulus talks continue

  • The closely-watched nonfarm payrolls data for last month will be released at 8:30 a.m. ET, with investors looking for an indication of the state of the U.S. labor market's recovery.
  • Congressional Democrats and White House representatives have yet to make substantial progress on a new coronavirus aid bill with the Trump administration's Friday deadline looming.

U.S. government debt prices were higher Friday morning as investors awaited July's federal jobs report, while lawmakers continued to haggle over a fresh coronavirus relief bill.

At around 2 a.m. ET, the yield on the benchmark 10-year Treasury note was down at 0.5198% and the yield on the 30-year Treasury bond fell to 1.1776%. Yields move inversely to prices.

Treasurys

The closely-watched nonfarm payrolls data for last month will be released at 8:30 a.m. ET, with investors looking for an indication of the state of the U.S. labor market's recovery. Economists forecast 1.48 million jobs were gained in July, down sharply from the 4.8 million in June, according to Dow Jones.

Meanwhile, Congressional Democrats and White House representatives have yet to make substantial progress on a new coronavirus aid bill. Both sides have expressed a desire to persist with negotiations, but President Donald Trump has threatened to pull out of talks if a deal is not reached by the end of Friday.

Released alongside the nonfarm payrolls report will be July's unemployment rate, average earnings, government and manufacturing payrolls and participation rate figures.

There are no Treasury auctions scheduled for Friday.

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