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Treasury Prices Tumble on Signs of Robust Economy

U.S. Treasury bond prices tumbled in a holiday-shortened session Friday after the unemployment rate fell to a five-month low, signaling that the economy could be stronger than expected.

The yield on the benchmark 10-year Treasury note surged to 4.76% from 4.68% late Thursday. Yields move in the opposite direction of bond prices. The bond market closed at 11 am New York time for Good Friday; stock and many other financial markets were closed Friday.