U.S. government debt prices were slightly higher Friday morning after record unemployment figures triggered hopes for further stimulus amid the worsening coronavirus pandemic.
Rates have held relatively steady despite record-breaking levels of initial jobless numbers out of the U.S. on Thursday, with 3.28 million Americans filing unemployment claims.
After the Senate passed a historic $2 trillion relief package, investors may be hoping for further stimulus measures as the full economic ramifications of the pandemic become clear.
The U.S. now has the most confirmed cases of coronavirus in the world, with 85,991 as of Friday morning, resulting in 1,296 deaths, according to data compiled by Johns Hopkins University.
On the data front, personal income and spending figures for February are due at 8:30 a.m. ET on Friday, along with a host of PCE (personal consumption expenditure) inflation readings.
There are no Treasury auctions scheduled for Friday.