U.S. Treasury yields slightly higher after strong March jobs report

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U.S. Treasury yields slightly higher after strong March jobs report

At 8:32 a.m. the yield on the 10-year Treasury note climbed to 1.688% at 8: 32. The yield on the 30-year Treasury bond rose to 2.341%. Yields move inversely to prices; U.S. Treasury yields were slightly higher on Friday morning following a better-than-expected March job report. Due to the Good Friday holiday, the Treasury market will close early.

In March, job growth in the U.S. surged at the fastest pace since August as companies intensified hiring, according to the Labor Department.

The nonfarm payrolls fell for the month 916,000, while the unemployment rate jumped to 6%.

Dow Jones estimates an increase of 675,000 with the unemployment rate at 6%. On Thursday, investors juggled a handful of economic data as well as the aftermath of President Joe Biden's announcement about a$ 2 trillion infrastructure bill. The first claims for unemployment benefits were higher than expected last week, with 719,000 more workers heading to the jobless line, the Labor Department reported on Thursday.

The total compared to the 675,000 estimate from Dow Jones and was above last week's downwardly revised 658,000.

On Wednesday evening, Biden outlined the Infrastructure and Economic Recovery package. Biden's plan included spending on transportation, broadband and affordable housing.

- CNBC contributed to this article: Maggie Fitzgerald and Vicky McKeever.

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