United States Treasury yields dropped further, while bond futures, which move in the opposite direction to yields, continued to surge following the latest nonfarm payrolls report. The Bureau of Labor Statistics said the US added 311,000 jobs in February, while the unemployment rate unexpectedly rose to 3.6%.
The yield on the benchmark 10-year Treasury note was down 22.2 basis points to 3.701% at 10:32 am ET and the yield on the 2-year note lost 27.6 basis points to hit 4.624% at the same time. The yield on the 30-year bond decreased by 16.9 basis points to 3.698% at 10:33 am ET.
The 2-year note futures were up 0.50% at 10:24 am ET, the 10-year note futures rallied 1.25% and the 30-year Treasury futures soared 2.25% at the same time.
