US Treasuries higher on sell-offs

Yields were up on US Treasury bonds on Monday as sell offs Friday morning continued after the holiday weekend. The selling was triggered by new Labor Department data showing that more jobs had been created than had been anticipated in March, sending the unemployment rate down to 4.4 percent during the month and raising fears that not only would the Federal Reserve not cut interest rates, but that it might actually raise rates. The Labor Department figures said that 180,000 jobs were created in March, many more than the 168,000 which had been expected.

In the middle of Monday’s session, two-year Treasury bonds were yielding 4.73 percent, while five-year paper was yielding 4.66 percent. Ten-year issues were at 4.75 percent, while thirty-year issues were yielding 4.92 percent.

European markets were still closed on Monday.

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