The US Treasury bond yields fell before the release of key labor market data.

The yield on US Treasury bonds fell during the afternoon trading session in Asia, as the market expects the latest data to confirm weakness in the labor market. Jens Peter Sorensen from Danske Bank's research department said in a report, "Given the increasing focus of the Fed on the labor market, if the October and November labor market statistics to be released today exceed the average expectations, these data are likely to trigger market volatility." According to Tradeweb data, the yield on 2-year US Treasury bonds fell by 1.5 basis points to 3.492%, while the yield on 10-year US Treasury bonds also fell by 1.5 basis points to 4.165%.