Treasury yields inch higher as investors await key jobs report

U.S. Treasury yields inched higher on Friday as investors weighed a trading week dominated by a global bond selloff and awaited a key jobs report. The benchmark 10-year Treasury was last up less than 1 basis point to 5.243% after climbing to multiyear highs on Thursday before retreating again. The 30-year Treasury bond was up over 1 basis point to 5.618% after hitting its highest level in 24 years the previous day. The 2-year Treasury note yield was little changed at 4.787%. One basis point is equal to 0.01%, and yields and prices move in opposite directions. Pressure on global government bonds eased elsewhere after a sharp sell-off this week, with 10-year yields down by around 3 basis points across major European economies.