The U.S. 10-year Treasury yield edged higher changed on Thursday as investors considered the state of the labor market and broader economy ahead of Friday's all-important jobs report.
The yield on the 10-year Treasury rose by more than than 2 basis points to 4.144%. It had dipped as far down as 4.104% in the session, which marked its lowest level since early September.
The 2-year Treasury yield was last down by nearly 2 basis points at 4.586%.
Yields and prices move in opposite directions. One basis point equals 0.01%.
Treasurys
Investors looked to economic data for hints about the state of the labor market and signals about what the Federal Reserve's interest rate policy outlook may look like. At the same time, they are readying for Friday's key data on nonfarm payrolls, the unemployment rate and wages.
On Wednesday, ADP's employment change report indicated that private payrolls rose by 103,000 in November, fewer than the 128,000 previously expected according to a Dow Jones survey of economists.
This was the second set of data released this week that hinted at a cooler labor market, with the Job Openings and Labor Turnover Survey previously showing that openings sharply declined in October with 8.73 million, which was also far lower than anticipated.
Weekly jobless claims released Thursday were below economist expectations and a reading of continuing jobless claims declined, indicating that the pace of layoffs hasn't increased.
The series of data comes ahead of the Federal Reserve's policy meeting next week.
The central bank is widely expected to keep interest rates unchanged then, but investors are hoping for hints about what officials expect for policy and the wider economy next year. That includes whether rate cuts are on the horizon and how policymakers expect the economy to fare while rates remain elevated.
Correction: Job openings in October totaled 8.73 million. An earlier version misstated the figure.