US Treasury yields were lower on Friday as investors continued to gauge the state of the US economy after employment data boosted sentiment.
The yield on the 10-year Treasury was about 5 basis points lower at 3.951% at 7:07 a.m. ET, but remained close to its level last week before a weak U.S. jobs report helped spark global market volatility.
The yield on the 2-year note was down more than 1 basis point on the day at 4.03%.
Yields and prices move in the opposite direction, and one basis point is equal to one hundred (0.01%) of percent.
Initial claims for unemployment insurance totaled 233,000 in the latest week, the Labor Department reported Thursday, a figure lower than expected.
That helps the drive S&P 500 index to its best day since 2022, also adding to the Asia-Pacific and European markets on Friday.
Meanwhile, traders are hedging their bets on a 50-basis-point rate cut from the Federal Reserve in September, now pricing in a chance or 25 basis points lower, according to CME’s FedWatch tool.
Fresh data is lacking until Tuesday, when the core producer price index is due.
