U.S. government debt prices were slightly higher on Friday morning, as investors looked to incoming key economic data later in the session.
It comes after stronger-than-anticipated data on U.S. jobs markets in recent days and amid hopes of another coronavirus relief package.
President Joe Biden’s administration is pushing ahead with plans to pass a $1.9 trillion economic relief plan, seeking to prop up the U.S. economy as it grapples with the ongoing Covid pandemic.
The stimulus plan has prompted disagreement with Republican lawmakers over state and local funding and other provisions. However, it is thought the relief plan, known as the American Rescue Package, could still pass with bipartisan support even if Democrats use a process that requires only a simple majority of senators.
On the data front, the latest nonfarm payrolls, unemployment rate and average hourly wages figures for January will be released at 8:30 a.m. ET. U.S. trade deficit figures for December will be released at the same time, while consumer credit data for December will follow later in the session.
There are no major U.S. Treasury auctions scheduled on Friday.
Elsewhere, the U.S. dollar remained on pace for its best weekly performance in three months, up more than 1% week-to-date.
The dollar index against a basket of six major currencies stood little changed at 91.518 on Friday morning.
— CNBC’s Thomas Franck contributed to this report.
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