Treasury Yields Decline as Jobless Claims Rise and Trade Deficit Shrinks; Markets Eye Friday Jobs Report

Treasury yields fell Thursday after jobless claims rose and trade deficit shrank.

The 10-year Treasury yield slipped from its 16-year high, while the 2-year and 30-year yields also declined.

Markets are looking ahead to Friday's jobs report, which is expected to show 170,000 jobs added in September.

Fed funds futures show traders pricing in a 79.6% chance rates stay unchanged in November.

Analysts say a strong jobs report could extend the recent bear steepening in rates, while a weak one may halt the selloff.