U.S. government debt yields dipped Thursday as investors prepared for the Labor Department's monthly jobs report.
The update on the employment situation, due out Friday morning, will come amid other economic metrics that have suggested a "robust" labor market. ADP and Moody's Analytics said in a report Wednesday that companies continued to hire at a quick pace in October, with private payrolls rising by a better-than-expected 227,000.
Meanwhile, the government said Thursday that initial claims for state unemployment benefits dropped 2,000 to a seasonally adjusted 214,000 for the week ended Oct. 27. Signals of a healthy economy tend to push investors away from relatively safe fixed-return investments like government debt.