* Yields fall after payrolls, 10-year notes yield 2.67 pct * Employers add 113,000 jobs, fewer than expected * Fed buys $659 mln notes due 2024-2031 * Yellen testimony, retail sales and supply focus for next week By Karen Brettell NEW YORK, Feb 7 (Reuters) - U.S. Treasuries yields fell on Friday after employers hired far fewer workers than expected in January, suggesting a loss of momentum in the economy at the same time as the Federal Reserve pares its bond purchase program. Nonfarm payrolls rose only 113,000 in January, below economists' expectations of 185,000 jobs, and job gains for December were barely revised higher, while the unemployment rate hit a new five-year low of 6.6 percent. "It's disappointing," said David Coard, head of fixed income sales and trading at Williams Capital Group in New York. The report was seen as unlikely to sway the Federal Reserve from continuing to make reductions in its bond purchase program, however, with the next Fed meeting not scheduled until March. "I think you would have to have significant weakness or you would need to see this disappointing trend extend another month or two," said Coard. The Fed last week said it would reduce its monthly bond purchases by $10 billion to $65 billion and it is expected to continue cutting in $10 billion increments. Five-year and seven-year notes, the most sensitive to Fed interest rate policy, were the best performers after the data. Five-year notes gained 8/32 in price to yield 1.47 percent, down from 1.54 percent before the data. Seven-year notes rose 10/32 in price to yield 2.12 percent, down from 2.19 percent. Benchmark 10-year Treasuries were last up 10/32 in price to yield 2.67 percent, down from 2.72 percent before the data was released. Thirty-year bonds rose 10/32 in price to yield 3.65 percent, down from 3.68 percent. Traders are next focused on testimony by new Fed Chair Janet Yellen, who is due to give her first testimony before the House Financial Services Committee on Tuesday and Thursday. Retail sales data on Thursday will also be watched for signs of strength in consumer spending. The Treasury will also sell $70 billion in new coupon-bearing debt next week, including $30 billion in three-year notes, $24 billion in 10-year notes and $16 billion in 30-year bonds. The Fed bought $659 million in notes due 2024 to 2031 on Friday as part of its ongoing purchases. It will purchase between $2.25 billion and $2.75 billion in notes due 2021 to 2023 on Monday.