By Nick Godt, MarketWatch
NEW YORK (MarketWatch) -- Treasury prices rallied and yields slumped on Friday, as investors bought government debt in the aftermath of the U.S. economy adding a less-than-forecast 431,000 jobs in May.
Most of the gains were temporary, and the Labor Department's data also showed private-sector hiring remained very weak last month.
Economists surveyed by MarketWatch had been looking for nonfarm payrolls to expand by a net of 540,000 on the month. See full story.
Yields on benchmark 10-year Treasury notes (UST10Y 3.26, -0.11, -3.38%) fell 10 basis points to 3.272%, as did those on 30-year bonds (UST30Y 4.18, -0.09, -2.08%) , to 4.177%.
Bond prices move inversely to their yields. A basis point is one one-hundredth of a percentage point.
