The following reports the effect of a disappointing employment report (increase in the unemployment rate, decrease in payroll employment) on the market for U.S. Treasury securities.
Coming Auctions Weigh On Treasury Prices
"Another strong week for Treasurys ended on the skids, as investors turned their attention from disappointing U.S. economic data to the $71 billion of auctions ahead.
The market registered no more than a temporary burst on Friday's poor jobs figures, having exhausted its ability to capitalize on conflicting economic data.
Heavy buying in long-dated Treasurys after the nonfarm payrolls report pushed yields, which move inversely to prices, down sharply. The 10-year note hit 3.10% and looked as if it might be headed for the year's April low.
Late Friday in New York, the 10-year note was down 10/32 point, or $3.125 for each $1,000 invested, at 103 10/32. Its yield rose to 3.230% from 3.194% late Thursday. The 30-year bond fell 1 2/32 points to yield 4.018%.
