NEW YORK (MarketWatch) -- Treasurys rallied and yields slumped on Friday, after the government said the U.S. economy added 431,000 jobs in May, but most of the gains were temporary and private-sector hiring remained very weak. Yields on benchmark 10-year Treasury bonds (UST10Y 3.27, -0.10, -2.91%) fell 10 basis points to 3.272%. The jobs report was also weaker than the 540,000 increase expected by economists surveyed by MarketWatch.

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