Treasury Two-Year Yields Fall to 2011 Low After Payrolls Report
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Treasuries rose, pushing yields on two-year notes to their lowest level this year, as U.S. job growth in May was less than a third of what economists forecast and the unemployment rate increased to 9.1 percent.
Two-year securities had their eighth straight weekly rally on speculation the Federal Reserve will keep borrowing costs low into next year. U.S. debt pared gains as Luxembourg’s Jean-Claude Juncker, who leads the group of euro-area finance ministers, said the European Union will approve a new relief plan for Greece.