Treasury yields rise forward of US jobs report as many markets are closed for public holidays

US Treasury yields rose ahead of the release of US nonfarm payrolls on Friday, while many markets were closed for the Easter holiday. US markets trade in half a day. Investors will assess jobs data to monitor possible Fed responses and the possibility of a recession.

The benchmark 10-year Treasury yield was 1.5 basis points higher at 3.305%, while the 2-year yield was 1.8 basis points higher at 3.839%.

Yields move inversely with prices.

Recent weak US data is fueling fears of a slowdown. The US jobs report and jobless rate are due out on Friday, but with many markets closed or halfway through, reactions could be muted.

Signs of a slowing economy so far include weaker personal payrolls and US services numbers, which reveal a slowdown in hiring and fueled speculation among traders that the Fed could pause its cycle of tightening next month.

The Labor Department reported on Thursday that jobless claims for the week ended April 1st stood at 228,000, suggesting pressure on the job market is mounting. Economists were expecting 200,000, according to a Dow Jones poll.