U.S. Treasury yields were little changed on Friday as investors await the latest jobs report to gauge to state of the labor market recovery.
The yield on the benchmark 10-year Treasury note was flat at 0.775%, while the yield on the 30-year Treasury bond also held steady at 1.542%. Yields move inversely to prices.
The Labor Department is scheduled to release the October jobs report before the bell. Job growth was expected to total 530,000 in October, and the unemployment rate is expected to fall to 7.7%, according to Dow Jones.
Investors continued to wait for the result of the presidential election. Democratic candidate Joe Biden has been chipping away at President Donald Trump’s leads in the key swing states of Georgia and Pennsylvania.
The former vice president Biden also holds narrow leads in Nevada and Arizona, where votes are still being counted. An NBC News tally shows that Biden has gained 253 electoral votes, just 17 votes shy of the 270 needed to win the White House.
On Thursday, the Federal Reserve kept benchmark interest rates anchored between 0% to 0.25%, as it said economic activity in the U.S. remained “well below” pre-pandemic levels.
Confirmed cases of the coronavirus continue to surge in the U.S., with the daily count of new infections reaching 121,888 on Thursday, according to data compiled by Johns Hopkins University.
