US Treasury Yields Rise After Strong Jobs Report


US government bond yields rose after new data showed a big jump in hiring in March, giving investors more reason to be optimistic about the economic outlook.

The yield on the benchmark US Treasury note closed at 1,721%, according to Tradeweb, compared with 1,680% on Thursday.

Yields, which rise when prices drop, rose after the Labor Department said employers added 916,000 jobs last month. That was the biggest gain since August and above the forecast of economists polled by The Wall Street Journal, who had anticipated an increase of 675,000 jobs.

With the US stock market closed, the bond market session on Friday was shortened. The Securities and Financial Markets Industry Association, or Sifma, recommended that the market close at 12 p.m. ET due to the Good Friday holiday. Stock index futures traded on Friday morning and extended their gains after the employment report.

At the headline level, the employment report is quite encouraging, and “even when you look at the details, there’s even more reason to be encouraged,” said Thomas Simons, senior vice president and money market economist at Jefferies LLC’s fixed income group . .

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