WASHINGTON (AP) — Treasury yields sank Thursday as traders waited for a report on the job market that might renew fears of another recession in the U.S.
The government will release data Friday on hiring and unemployment last month. Analysts expect that the job market weakened as factory output grew more slowly and recession fears limited spending by consumers. A labor strike at Verizon Communications Inc. also might have hurt the results.
A weak report on jobs could reignite fears that the economic recovery is losing momentum. That would make lower-risk investments such as Treasurys more attractive, driving their prices higher and their yields lower.
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