The yield on the US 10-year Treasury note hovered around 4.37% on Thursday, holding its losses after falling roughly 10 basis points in the previous session. Investors cautiously awaited the latest weekly jobless claims due Thursday and the closely watched nonfarm payrolls report set for release Friday. Yields declined sharply on Wednesday as a string of soft economic data raised fresh concerns about the health of the US economy. The ADP employment report revealed just 37,000 private-sector jobs were added in May—well below forecasts and the weakest reading in over two years—amplifying fears that ongoing trade policy uncertainty is weighing on hiring. Further pressure came from the ISM services PMI, which showed the sector contracted in May for the first time in nearly a year. Meanwhile, President Trump continued to push for Fed rate cuts, though policymakers have maintained a cautious stance, citing heightened uncertainty and mixed economic signals.