U.S. Treasury yields were little changed on Thursday as investor attention turned to fresh jobs data that will provide the latest insights into the state of the economy.

The yield on the 10-year Treasury yield was flat at 3.767%. The 2-year Treasury yield was last at 3.77%, also trading flat on the day.

Yields and prices move in opposite directions and one basis point equals 0.01%.

On Wednesday, the 10- and 2-year Treasury yields briefly normalized, reversing the inverted yield curve which is historically seen as a recession indicator. The 10-year yield was above the 2-year yield for the first time since June 2022. The 10- and 2-year yields remained close together on Thursday.

Market attention turned to jobs data due this week, including nonfarm payrolls and the latest unemployment figures for August on Friday. The weaker-than-expected July jobs report had prompted a wave of recession fears and market volatility, as questions about whether the Federal reserve should have cut interest rates sooner emerged.

The latest jobs print will therefore be closely watched by investors, who will parse through the data for hints about current economic conditions and what could lie ahead.

On Thursday, weekly initial jobless claims data is due, which has also been followed intently by investors in recent weeks. Economists surveyed by Dow Jones are expecting jobless claims to come in slightly below the previous week’s reading.

The data comes ahead of the next Federal Reserve meeting later this month, when the central bank is expected to cut interest rates. Uncertainty remains about the size of the rate cut.