US Treasury Yields Drift Lower Amid Weak Jobs Data and Ahead of Fed Minutes

US Treasury yields are drifting lower, supported by comments on easing inflation and a weaker-than-expected June jobs report. The June employment report showed nonfarm payrolls rose by 57,000, falling short of expectations, though the unemployment rate unexpectedly declined to 4.2%. Investors are now looking to the Federal Open Market Committee (FOMC) meeting minutes, due Wednesday, July 8, for further clues on the Federal Reserve's future interest rate path, especially after Fed Chair Kevin Warsh stressed commitment to price stability despite recent inflation moderation.