Treasury yields fall after big jobs shortfall, despite strong wage gains
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U.S. government debt yields fell on Friday after the Labor Department said the U.S. economy added far fewer jobs than expected and wages moved higher in the month of February.

10-year Treasury note, which moves inversely to price, was lower at around 2.619 percent, off lows of the day immediately following the monthly jobs report, when the 10-year yield dipped as low as 2.607 percent. The 30-year yield was at 3.01 percent while the 2-year yield hovered at 2.45 percent.

Job growth ground to a halt in February, with nonfarm payrolls increasing by just 20,000 even as the unemployment fell to 3.8 percent. February was the worst month for job creation since September 2017, though average hourly earnings advanced more than expected. Economists had expected 180,000 nonfarm payroll additions.

Average hourly earnings increased by 3.4 percent on a year-over-year basis, the best of the economic recovery that began nearly 10 years ago. Economists had been expecting an increase of 3.2 percent. Average hourly earnings increased 11 cents to $27.66, a 0.4 percent increase from the prior month.

(Excerpt) Read more Here | 2019-03-08 13:45:12

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