Treasury Yields Tumble to Records on Jobs Data, Europe

Treasuries rallied, pushing 10- and 30-year yields to all-time lows, after the economy added fewer jobs in May than economists forecast, and concern festered that the European sovereign-debt crisis may spread.

U.S. 10-year note yields dropped below 1.5 percent for the first time, posting the biggest weekly drop in eight months, after the Labor Department reported U.S. employment growth was the least in a year. Morgan Stanley said the probability of more central bank policy stimulus reached 80 percent as Federal Reserve Chairman Ben S. Bernanke prepared to testify before Congress on June 7 about the outlook for the U.S. economy.