U.S. Treasury yields made back some ground on Friday, after initially falling on April’s jobs report that fell short of expectations.
The yield on the benchmark 10-year Treasury note was unchanged at 1.558% after earlier hitting 1.469%, its lowest level since March 4. At one point in the session the benchmark note’s yield also traded at 1.575%.
The yield on the 30-year Treasury bond traded at 2.249%, or about three basis points lower.
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%.
Tech stocks initially rallied on 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.
