U.S. Treasury yields were relatively unchanged on Friday as investors continued to face an economic data blackout amid the U.S. government shutdown.
The 10-year Treasury yield was more than 2 basis points lower at 4.069%. The 2-year note yield was down more than 3 basis points at 3.535%, while the 30-year bond yield dipped less than 1 basis point to 4.683%.
One basis point equals 0.01% and yields and prices move in opposite directions.
With the data blackout, investors have turned to other economic data releases to gain a sense of how the U.S. economy is holding up. On Friday, a survey from the University of Michigan showed that consumer sentiment neared its lowest level ever, recording a November reading of 50.3. That’s well below the Dow Jones forecast for 53.0.
The nonfarm payrolls report would have been slated to be released on Friday by the Bureau of Labor Statistics, but it is unable to do so for the second month in a row as a result of the government shutdown. Economists polled by Dow Jones had been expecting the report to show a decline of 60,000 jobs and an increase in the unemployment rate to 4.5%.
Worries about the economy were heightened Thursday after a survey from Challenger, Gray & Christmas revealed a sharp rise in jobs cuts in October, coming in at 153,074 in the period, triple September’s level and climbing 183% monthly. It’s also 175% higher than the same period a year ago.
It’s the highest number of layoffs for any October since 2003, while 2025 was the worst year for announced layoffs since 2009, per the Challenger survey.