Treasury Prices Plunge as Employment Data Improves

U.S. Treasuries prices plunged after data showed the U.S. economy created jobs at the fastest pace in nine months in January.

Employers added 243,000 jobs in the month, the most since April, and the unemployment rate dropped to a near three-year low of 8.3 percent.

"It's an unambiguously good number, in particular that incomes continue to grow," said Ira Jersey, interest rate strategist at Credit Suisse in New York.

Benchmark 10-year notes dropped 26/32 in price to yield 1.92 percent, up from 1.82 percent late on Thursday and the highest yield since January 27.

Thirty-year bonds plunged over two full points and were last down 2-14/32 in price to yield 3.13 percent, up from 3.01 percent.

Follow us