TREASURIES-Prices slide after U.S. employment data

NEW YORK Fri Oct 5, 2012 8:47am EDT

Related Topics

NEW YORK Oct 5 (Reuters) - U.S. Treasuries prices fell on Friday after the government reported the U.S. unemployment rate fell more than expected in September.

The benchmark 10-year Treasury note, which was down 4/32 in price just before the report came out, extended its loss to 14/32, pushing its yield up to 1.72 percent from 1.67 percent late on Thursday.

The 30-year bond, down 8/32 before the report, fell more than a point to 96-05/32, its yield rising to 2.94 percent from 2.89 percent late on Thursday.

The U.S. Labor Department said 114,000 jobs were added to nonfarm payrolls in September, almost matching the Reuters consensus estimate of 113,000.

But August job growth was revised up to 142,000 from 96,000 first reported and July job growth was revised up to 181,000 from the 141,000 number previously reported.

In the household survey, the unemployment rate fell to 7.8 percent from 8.1 percent in August. Economists had expected a rise in the rate to 8.2 percent.

Traders said some of the downward pressure on 10- and 30-year Treasuries was in anticipation of supply next week when the Treasury will auction 10- and 30-year bonds.

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.