U.S. Treasury yields reversed course on Friday after April’s jobs report fell short of expectations.
The yield on the benchmark 10-year Treasury note stood at 1.53%, down three basis points, after earlier trading at 1.575%. At the low of the day, the yield hit 1.469%, its lowest level since March 4.
The yield on the 30-year Treasury bond declined to 2.203%. Yields move inversely to prices.
Hiring was a huge letdown in April, with nonfarm payrolls increasing by a much less than expected 266,000. The unemployment rate rose to 6.1%.
Dow Jones estimates had been for 1 million new jobs and an unemployment rate of 5.8%.
Futures contracts tied to the Nasdaq 100 jumped following the dip in yields, since lower yields are viewed as a boon for growth-oriented areas of the market.
— CNBC’s Thomas Franck contributed to this report.
