Deutsche Bank: Non-farm employment may indicate a weak job market.

Before the release of the April non-farm payroll data in the United States, the yield on US Treasury bonds fell, reversing the upward trend seen after better-than-expected ISM manufacturing PMI data on Thursday. Analysts at Deutsche Bank said in a report that the ISM data "is not as bad as people feared," which boosted risk appetite. However, Friday's data may show softening in the job market amid uncertainty over tariffs. Analysts said that US non-farm payrolls in April are expected to increase by 125,000, lower than the 228,000 in March.