Treasuries Sink After Employment News

The March data show solid growth without inflation

MARKETSCOPE : Treasury bond prices sank on Friday, after surprising news about the job market suggested strong U.S. economic growth.

The benchmark 10-year note sank 15/32 to 96-15/32 for a yield of 4.96%, while the 30-year bond tumbled 31/32 to 91-25/32 for a yield of 5.35%.

March Nonfarm Payroll rose a more than expected 211,000 after jumping 225,000 in February. The unemployment rate fell to 4.7% from 4.8% in February. The hourly wages rose 0.2%, down from 0.3% in February.

U.S. Wholesale Sales were flat while Inventories rose 0.8% in February. Sales rose 0.7% in January, which was revised from 1.0%.

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