Treasury yields inch higher ahead of April jobs report

US Treasury Yields Rise Ahead of Key Labor Market Data #

US Treasury yields increased slightly as investors awaited important labor market data that could provide insights into the state of the economy. The yield on the 10-year Treasury rose over one basis point to 4.5814%, while the 2-year Treasury yield was over one basis point higher at 4.8891%. Investors are focusing on the April jobs report, which is expected to show a slowdown in nonfarm payrolls growth compared to March. The unemployment rate is expected to remain at 3.8%. Uncertainty around potential interest rate cuts has increased in recent weeks, with expectations shifting towards fewer cuts later in the year.