U.S. Treasury yields were lower on Thursday as investors awaited June’s big jobs report and continued to monitor progress on President Donald Trump’s spending bill.
At 2:57 a.m. ET, the benchmark 10-year yield was 4 basis points lower to 4.253%. The 30-year bond yield was also down over 4 basis points at 4.781%. The 2-year Treasury yield was lower over 2 basis points at 3.772%.
One basis point is equal to 0.01%, and yields move inversely to prices.
Investors are anticipating the Bureau of Labor Statistics’ June nonfarm payrolls report on Thursday, which measures the number of workers employed in the U.S. economy.
Economists polled by Dow Jones are expecting that the economy added 110,000 jobs last month, lower than 139,000 in May. The unemployment rate is also forecast to increase to 4.3%, up from 4.2% in May.
That’s after the ADP payrolls report on Wednesday showed that private sector hiring decreased by 33,000 last month.
Investors are also keeping an eye on Trump’s “one big beautiful bill” which passed the Senate on Tuesday and has now returned to the House, where some Republican lawmakers remain fiercely opposed to the bill. The mega-spending bill is expected to add $3.3 trillion to the fiscal deficit over the next decade.
On the trade front, Trump announced on Truth Social that the U.S. had come to a deal with Vietnam, which includes a 20% tariffs on imports from the country. Goods that were manufactured in another country, but were transferred to Vietnam before final shipment to the U.S., will face a levy of 40%.
