Treasury yields fell near the lows of the year as bond traders bet the Friday jobs report will be worse than economists expect.
The 10-year was yielding 1.76 percent late in the day Thursday, in a move exaggerated by short-covering. Traders see support in that zone and also at 1.74, the 200-day moving average. Another big support area is 1.72 percent, the low from Dec. 31. The 10-year bond was yielding 1.81 Wednesday, and it was last at 1.76 percent in the beginning of January.
One trader said the market is void of supply with strong buying by the Fed this week. But the Bank of Japan's announcement that it plans its own huge asset purchase program is also fueling some buying.