Treasury yields surge after stronger-than-expected December jobs report
Treasury yields jumped after December's employment report showed the U.S. economy added 312,00 jobs. The 10-year Treasury note yield rose 8.3 basis points to 2.636%. The 2-year note yield added 8 basis points to 2.469%, while the 30-year bond yield ticked higher by 4.8 basis points to 2.948%. Bond prices move in the opposite direction of yields. Economists polled by MarketWatch had forecast the U.S. to add 182,000 jobs in December. The unemployment rate increased to 3.9% from 3.7%. The Federal Reserve has highlighted the healthy labor market as a reason to raise interest rates this year, even as investors demand the central bank to slow down amid tighter financial conditions. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.