Treasury yields fall ahead of nonfarm payrolls

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U.S. Markets Overview: Treasurys chart

At around 4:30 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at 1.5255%, while the yield on the 30-year Treasury bond also ticked lower to 2.0280%.

Non-farm payrolls for September are set for publication at 8:30 a.m. ET, along with trade data for August, and average earnings and unemployment rate figures for September.

Weak payroll data would further compound fears for the state of the economy, after weak manufacturing data earlier this week rocked markets.

Investors will also be monitoring developments in an ongoing impeachment inquiry after President Trump on Thursday publicly invited foreign interference in next year’s presidential election.

Speaking to reporters on the White House lawn, the president requested that China investigate Democratic rival Joe Biden and his son. The impeachment inquiry was triggered after it was revealed that Trump had pushed Ukrainian President Volodymyr Zelensky to investigate the Bidens.

Markets are also reacting to sounds from the Federal Reserve after Vice Chairman Richard Clarida said on Thursday that the U.S. economy is in a “good place” and the labor market is “very healthy,” but the central bank will act “as appropriate” one meeting at a time.

Fed Chairman Jerome Powell is due to deliver a speech at 2:00 p.m. ET.

There are no Treasury auctions scheduled for Friday.

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