Treasury yields move lower as investors await delayed January jobs report

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U.S. Treasury yields moved lower on Wednesday as investors awaited the release of the delayed January jobs report.

At 6:12 a.m. ET, the 10-year Treasury yield moved down 1 basis point to 4.135%, while the 30-year Treasury yield was lower by 1 basis point to 4.779%. The 2-year Treasury note yield was down less than a basis point at 3.45%.

One basis point is equal to 0.01%, and yields and prices move in opposite directions.

Investors are anticipating the nonfarm payrolls report for January on Wednesday, set to be published by the Bureau of Labor Statistics at 8:30 a.m. ET. The report was delayed five days due to the partial U.S. government shutdown, which ended on Feb. 3.

The jobs report is projected to show little to no growth in January, with the Dow Jones consensus officially forecasting a payrolls gain of 55,000, after a December increase of 55,000. The unemployment rate is expected to come in at 4.4%, with annual wage gains of 3.7%.

Some on Wall Street are predicting lower numbers, with Goldman Sachs, for example, expecting a payrolls increase of just 45,000.

Investors are also looking ahead to the consumer price index, which is due out on Friday, and is a key inflation gauge.

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