TREASURIES: Bonds plunge after May non-farm payrolls data
Published: 07 Jun 2009 17:14:53 PSTNEW YORK, June 5 - U.S. Treasury debt prices plunged on Friday, with the benchmark note falling over a full point in price after the government reported a much smaller than expected decline in May non-farm payrolls.
The benchmark 10-year note was trading 1-12/32 lower in price for a yield of 3.88 percent, the highest in over six months and up from 3.71 percent late on Thursday.
The 30-year long bond briefly traded over two points lower in price after the data, then retraced some losses to trade 1-21/32 lower for a yield of 4.68 percent from 4.58 percent.
The Treasury yield curve, or the spread between the yield on 2-year notes and 10-year notes, reached 281 basis points, marking its widest on record.
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