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US Yields Plunge in Wake of Jobs Data

U.S. Treasury yields tumbled on Friday to their lowest level since last December, undermined by a soft U.S. jobs report that fell short of market expectations.

Job creation slowed to a crawl during March, with the U.S. economy creating just 88,0000 positions though the unemployment rate fell to 7.6 percent.

The number was a sharp slide from February's upwardly revised 268,000.

The benchmark ten-year note jumped by 22/32 in price, falling to a new 2013 low round 1.684 percent.

The data reinforced Thursday's bearish initial claims data, which showed the number of Americans filing new claims for unemployment benefits rose 28,000 last week to a seasonally adjusted 385,000, the highest level since last November. It was the third straight week of gains in new jobless claims.

The 30-year Treasury bond surged by more than two full points to yield below three percent.

--Reuters contributed to this report.

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