U.S. Treasury yields drift lower in Asian trading as markets await April jobs data due later in the day. First Citizens Bank’s Phil Neuhart says a modest payroll gain alongside unemployment steady at 4.3% would signal a cooling but stable labor market, marked by “low-hire, low-fire” conditions. He adds such a report would likely keep the Federal Reserve on hold—neither weak enough to force cuts nor strong enough to revive inflation concerns. Economists polled by The Wall Street Journal expect 55

U.S. Treasury yields drift lower in Asian trading as markets await April jobs data due later in the day. First Citizens Bank’s Phil Neuhart says a modest payroll gain alongside unemployment steady at 4.3% would signal a cooling but stable labor market, marked by “low-hire, low-fire” conditions. He adds such a report would likely keep the Federal Reserve on hold—neither weak enough to force cuts nor strong enough to revive inflation concerns. Economists polled by The Wall Street Journal expect 55,000 job additions.