The 10-year U.S. Treasury yield rose slightly on Friday, holding near its recent high at 3.07%, ahead of the release of a key payrolls report.
for the first quarter showed worker output had fallen at the fastest pace since 1947, while weekly unemployment insurance claims also came in slightly higher than expected.
Higher wage growth data from this report, in particular, could provide more evidence for the Fed to lean into its aggressive tightening of monetary policy. Mike Harris, founder of Cribstone Strategic Macro, told CNBC's"Squawk Box Europe" on Friday that he believed the Fed was using"too blunt a tool kit" to control inflation.
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