January 10, 2020 / 2:01 PM / 16 days ago

TREASURIES-Yields U-turn after job growth slows modestly in December

NEW YORK, Jan 10 (Reuters) - U.S. Treasury yields boomeranged on Friday after the Labor Department reported that domestic job growth slowed more than expected in December, first falling on the news before retracing the dip shortly after.

The benchmark 10-year yield was last up half a basis point on the day to 1.862% as the pace of hiring remained strong enough, and unemployment rate low enough, to maintain the longest U.S. economic expansion in history.

The two-year yield, which reflects market expectations of the direction of interest rates, was up 1.2 basis points to 1.588%. (Reporting by Kate Duguid; Editing by Hugh Lawson)

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