Yields on some European bonds were around all-time lows on Friday, and focus will swing to U.S. Treasury yields with the release of closely watched U.S. jobs data later Friday. In the U.K., the 10-year gilt yield was down less than 1 basis point at 0.77%, according to TradeWeb. It hit a record low 0.72% earlier this week. The yield on Germany's 10-year bund was also down less than 1 basis point, to negative 0.17%. It fell to negative 0.18% this week. "Global bond yields are going deeper into uncharted territory; they may be due for a pause, but have not reached their final destination," wrote Vincent Chaigneau, head of FX & fixed income research at Societe Generale, in a note issued Friday. The yield on the 10-year U.S. Treasury yield on Thursday rose to 1.409%, but hovered near record lows. "The coming fortnight will see the BOE and ECB try to soothe matters, be that in terms of action or promises of action," said Societe Generale. The Bank of England will meet next Thursday and the ECB will gather on July 21.
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