Treasury yields were flat on Friday morning as traders anticipated the release of key labor market data, due later in the day.
Yields on 10-year U.S. Treasurys — the main benchmark for mortgages, auto loans and credit card debt — were steady at 4.6719%.
Shorter- and longer-dated yields were also unmoved. The yield on the 2-year Treasury note, which more closely follows short-term Federal Reserve rate decisions, held firm at 4.2431%. The 30-year Treasury yield, which typically reacts to broader geopolitical developments, was unchanged at 5.2189%.
Traders are awaiting the release of key labor market data for closer insights into the U.S. economic picture and the potential impact on the Federal Reserve's interest rate decisions.
Economists expect July's nonfarm payrolls data to show an increase of 83,000 jobs for the month, while the unemployment rate is forecast to hold steady at 4.2%.
Dan Lacalle, chief economist at Tressis, said Fed rate hikes would be a negative for the economy, hurting the jobs market in particular.
"It makes no sense for the Fed to hike rates," Tressis told CNBC. He added that there is "no sign" of overheating in the U.S. economy, and core CPI and PCE data indicate that rate rises would have no impact on energy prices.
West Texas Intermediate futures were last seen up 0.67% at $77.81, while Brent crude rose almost 1% to $83.31.
