US yields fall on weaker US employment growth

NEW YORK: US Treasuries rallied and yields fell to their lowest levels of the year on Friday after the government said US employment grew at its slowest pace in nine months in March.

The benchmark 10-year Treasury note extended its gain to 18/32, putting its yield at 1.70 percent.

The price of the 30-year Treasury bond extended its gain to two points, pushing its yield down to 2.89 percent from 2.94 percent before the report came out and from 2.99 percent late on Thursday.

The government said the US economy produced just 88,000 new jobs last month. The unemployment rate edged lower, but that was mainly due to people leaving the workforce.