Treasury yields move higher after July shows 1.8 million job gains

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U.S. Treasury yields shifted higher on Friday after the U.S. Labor Department reported the economy had added 1.76 million jobs in June, coming above analysts’ expectations. MarketWatch-polled economists had a consensus estimate of 1.68 million. The 10-year note yield rose a basis point to 0.546%, while the 2-year note rate was at 0.119%. The 30-year bond yield added 0.9 basis point to 1.209%. The U.S. unemployment rate fell to 10.2%, from 11.1%. Investors had worried that a weaker-than-expected employment report could confirm the market’s worst fears around a stalling U.S. recovery, as COVID-19 infections picked up across many states.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.