the 10year us treasury yield topped 172 on thursday morning as investors continued to digest minutes from the federal reserves december meeting the yield on the benchmark 10year treasury note added 2 basis points rising to 17281 at 415 am et the yield on the 30year treasury bond moved 3 basis points higher to 21210 yields move inversely to prices and 1 basis point is equal to 001 the minutes from the feds december policy meeting released wednesday showed that the central bank had begun plans to start reducing the number of bonds it holds fed officials said the reduction in its balance sheet would likely start sometime after the central bank begins raising interest rates the us labor department is due to release the number of jobless claims filed during the final week of 2021 at 830 am et this comes after adps employment change report released wednesday showed that 807000 private payrolls were added in december well above an estimate of 375000 jobs the job openings and labor turnover survey published tuesday showed that a record 453 million workers quit their jobs in november investors will now be looking ahead to the closely watched december nonfarm payrolls report due out on friday morning brian nick chief investment strategist at nuveen told cnbcs squawk box europe on thursday that he believed that fridays nonfarm payrolls report could be quite strong however he suggested that the effects of the omicron variant on the labor market would likely be seen only in the january report which is due for release in early february nick said a weaker nonfarm payrolls report next month could put the fed in an awkward position in terms of raising interest rates much sooner than expected just a few months ago market expectations are for the fed to start raising its benchmark interest rate in march fed officials have indicated that they foresee as many as three rate hikes in 2022 auctions are scheduled to be held on thursday for 50 billion of 4week bills and 40 billion of 8week bills