Equities

Treasury yields move ahead of U.S. jobs report


10-year U.S. Treasury yields moved higher on Friday morning, ahead of a key November jobs report due out later in the day, which will indicate the health of the labor market as the country grapples with surging coronavirus cases.The yield on the benchmark 10-year Treasury note rose slightly to 0.925% at 5:29 a.m. ET, while the yield on the 30-year Treasury bond stood at 1.671%. Yields move inversely to prices.The Treasury yield movements came ahead of the release of November non-farm payroll figures, along with the U.S. unemployment rate that month, both due out at 10:30 a.m. ET.Economists surveyed by Dow Jones forecasted that 440,000 jobs were added in November, compared to 638,000 in October. They also expected the unemployment rate to have fallen to 6.7% from 6.9% in November.The expected slowdown in new payrolls reflects the worsening situation with coronavirus in the U.S., as more than 100,000 people have been hospitalized with Covid-19. States and local governments have also issued shutdown orders.Federal Reserve Bank of Chicago President Charles Evans is due to make a speech at 11 a.m. ET on Friday, while Fed Governor Michelle Bowman will speak at 12 p.m. ET.Data for new orders of U.S. manufactured goods in October is expected out at 12 p.m. ET.No auctions will be held on Friday.— CNBC’s Patti Domm contributed to this article.

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