Treasury yields reached highs after higher-than-expected nonfarm payroll number Friday. April nonfarm payroll came in higher than 274,000, ahead of the expected 175,000. Treasury prices fell as yields rose, with the 10-year not yield reaching 4.28% during the course of the day, according to Marketscope. 2-0years plunged as fears rose that the Fed would be more aggressive in its rate policy, according to Informa. A New York-based advisory report circulated suggesting that markets could begin pricing in a 50 basis point rate hike at the June Fed meeting, in light of the strong April labor numbers.
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