According to a report by Jin Shi data, analysts from Danske Bank stated that the U.S. non-farm payroll data for July will set the tone for the U.S. Treasury market next week. A weak labor market report could increase pressure on the Federal Reserve to cut interest rates in September. Although Thursday's personal PCE inflation was slightly higher than expected, the data shows how difficult it is to bring the inflation rate down to below 2% or close to 2%.