RTRS: TREASURIES-Bonds extend losses briefly after payrolls data
NEW YORK, May 7 (Reuters) - U.S. Treasuries extended their decline briefly on Friday, after government data showed a bigger-than-expected payroll increase, signaling a strengthening in the labor market and the economic recovery.
U.S. employers added 290,000 jobs in April, far above the 200,000 increase predicted by economists polled by Reuters. The March figure was upgraded to 230,000, the U.S. Labor Department said. For more, see [ID:nOAT004605]
But the unexpectedly large payroll increase was mitigated by a surprise rise in the unemployment rate to 9.9 percent.
The price on benchmark 10-year Treasury notes US10YT=RR last traded down 14/32 after falling nearly 1 point shortly after the payroll data before starting to pare losses.
The 10-year yield, which moves inversely to price, was 3.45 percent after touching a session high of 3.52 percent right after the data. It ended at 3.41 percent on Thursday. (Reporting by Richard Leong. Editing by W Simon )
