The 10-year US Treasury yield fell 2.4 basis points to 1.57 percent, with US stock index futures pointing to a slightly lower open on Wall Street on Friday. The yield hit a record low of 1.44 percent last month.

The US economy is expected to have created 90,000 jobs in June, compared with 69,000 the previous month. The non-farm payroll data is due at 1230 GMT.

"Volumes are very low, we are all waiting for the payrolls. Most of the proxy indicators suggest it should be on or above consensus," Charles Diebel, head of market strategy at Lloyds Bank, said.

Data this week showed U.S private employers stepped up hiring in June and the number of Americans filing new claims for jobless benefits last week fell by the most in two months.

But other data painted a weak outlook for the US economy, with the vast services sector expanding at its slowest pace in nearly 2-1/2 years in June and retailers reporting sales below expectations.

"Everything is getting exacerbated by the flows going into non-farm payroll," one trader said.

"Anything below 80,000 is going to be pretty disappointing, especially given the ADP (private employment report)," the trader said. "We are (not far) away from the low yield in 10-year Treasuries, I think that we will visit those if we get something in the 70s and then you will probably see the market come off."

Five-year US Treasury yields fell 1.8 basis points to 0.65 percent, while thirty-year yields shed 2 bps to 2.70 percent.