U.S. Treasury yields rose early on Thursday, as investors remained focused on jobs data, with the latest update on weekly jobless claims due out later in the morning.
The yield on the benchmark 10-year Treasury note climbed 1 basis point to 1.7788% at 3:25 a.m. ET. The yield on the 30-year Treasury bond gained 2 basis points at 2.1156%. Yields move inversely to prices and 1 basis point is equal to 0.01%.
The Labor Department is due to release the number of jobless claims filed during the week ended Jan. 29 at 8:30 a.m. ET. Economists polled by Dow Jones expect initial claims to have fallen to 245,000 from 260,000.
Fourth-quarter data on unit labor costs and non-farm productivity are also set to be released at 8:30 a.m. ET.
These latest sets of labor market data follow a surprisingly disappointing employment change report by private payroll services firm ADP on Wednesday. Private U.S. payrolls fell by 301,000 in January, according to ADP, while economists predicted a gain of 200,000 new jobs.
The closely watched non-farm payrolls report is due out on Friday morning. Economists expect that 150,000 jobs will have been added in January.
Meanwhile, Markit is due to release its final composite and services purchasing managers’ index readings for January at 9:45 a.m. ET on Thursday. ISM’s January non-manufacturing PMI is then slated for release at 10 a.m. ET.
December’s factory orders data is set to come out at 10 a.m. ET.
Auctions are scheduled to be held on Thursday for $50 billion of 4-week bills and $40 billion of 8-week bills.
— CNBC’s Fred Imbert and Tanaya Macheel contributed to this market report.
