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LivestreamMenuTraders work at the New York Stock Exchange on June 29, 2026. NYSE
U.S. Treasury yields edged higher on Thursday, as investors continued to price in more hawkish policy from the Federal Reserve and looked ahead to key jobs data that could influence the central bank’s decisions.
At 1:50 a.m. ET, the yield on the benchmark 10-year Treasury note had added 1 basis point to trade at around 4.491%. Yields on the 2- and 30-year Treasurys also gained 1 basis point.
Traders are awaiting the June non-farm payrolls report, being released a day early due to Friday’s Independence Day holiday.
Economists polled by Dow Jones expect the U.S. to have added 115,000 jobs last month.
On Wednesday, ADP private payrolls figures — a forerunner to the Bureau of Labor Statistics’ official jobs report — showed private sector employment grew by 98,000 in June, down from 122,000 in May, slightly below forecasts of 110,000.
Meanwhile, Fed Chair Kevin Warsh told CNBC’s Sara Eisen during a panel discussion at the European Central Bank’s annual policy conference in Sintra, Portugal, that prices are “too high.”
“We’ve all looked around, and we’ve seen that prices are too high,” he said of delegates at the event.
“If there were people in household or the business sector, in the financial markets, who thought that this central bank was going to be comfortable with an inflation objective above 2%, well, I guess they’d be disappointed,” he added during the discussion on Wednesday. “We’re going to deliver price stability in the U.S.”
Markets are pricing in a more than 70% chance that the Fed keeps its key interest rate unchanged at its meeting this month, according to the CME’s FedWatch tool.
But traders are pricing in a chance of around 64% that the Fed hikes rates by at least a quarter-point at its subsequent FOMC meeting in September, per CME data.
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