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US Treasurys sell off after US jobs report

U.S. government debt prices fell sharply on Friday, after a report showed the U.S. economy added a better-than-expected 257,000 jobs in January.

The U.S. 10-year benchmark Treasury note yield was at 1.94 percent following the release, after closing at 1.815 percent on Thursday. Thirty-year bond yields were at 2.52 percent after closing at 2.422 percent on Thursday.

Symbol
Yield
 
Change
%Change
US 3-MO
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US 1-YR
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US 2-YR
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US 5-YR
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US 10-YR
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US 30-YR
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The unemployment rate edged higher but the U.S. economy added a better-than-expected 257,000 jobs in January, according to the latest data from the Bureau of Labor Statistics.

The consensus forecast for nonfarm payrolls in January is 230,000, while the unemployment rate is expected to remain unchanged at 5.6 percent.

Read MoreBetter news thanexpected for January jobs

On Thursday, Greek Finance Minister Yanis Varoufakis met his German counterpart Wolfgang Schaeuble in Berlin after a week of touring European capitals in an effort to drum up support for Greece's new proposals over its debt and bailout program. Following the talks, Schaeuble said the ministers had "agreed to disagree."

The Greek government is under pressure to find a solution to its funding situation as international lenders are unwilling to release its latest tranche of aid until it makes a commitment to continue with the conditions of its bailout.

In Greek debt markets, the yields on two-year, five-year and 10-year bonds were trading at 16.6 percent, 13.2 percent and 10.3 percent respectively.