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10-year Treasury yield hovers above 3-month low ahead of jobs report

“The 10-year Treasury note yield TMUBMUSD10Y, +0.34% rose 1.2 basis points to 2.888%, bouncing off a more than three-month low” writes Sunny Oh for The gap between the 2-year note yield and the 10-year note yield, a common gauge of the yield curve’s slope, narrowed to 12 basis points, or 0.12 percentage point.The 2-year note yield TMUBMUSD02Y, +0.00% was mostly unchanged at 2.766%, while the 30-year bond rate TMUBMUSD30Y, -0.19% was up by 1.1 basis points to 3.147%.The gap between the 3-year note and the 5-year note yield turned negative earlier this week, though the inversion of this pairing has a spotty record of predicting an economic downturn.Treasury yields struggled for direction on Friday, capping a turbulent week of trading, ahead of the all-important nonfarm payrolls report that could give fresh clues to the economy’s health.

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