10-year Treasury yield holds above 1.5% ahead of February jobs report
The 10-year U.S. Treasury yield fell slightly on Friday but held above the 1.5% level, ahead of data out later in the morning showing the number of jobs added in February.
The U.S. Bureau of Labor Statistics is set to release the February employment report at 8:30 a.m. ET.
Economists expect to see 210,000 payrolls were added in February, compared to just 49,000 in January, according to Dow Jones. The unemployment rate is expected to have remained at 6.3%.
The 10-year yield hit 1.55% on Thursday following comments from Federal Reserve Chairman Jerome Powell about inflation. Powell said he expected inflation to rise as the economy recovers, but he thinks it will be temporary.
"We expect that as the economy reopens and hopefully picks up, we will see inflation move up through base effects," Powell said during a Wall Street Journal conference. "That could create some upward pressure on prices."
There are no auctions due to be held on Friday.
— CNBC's Patti Domm and Jeff Cox contributed to this report.
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