Mubasher: The yield on the 10-year US Treasury bonds rose during trading on Friday, exceeding 1.6 percent, after the monthly jobs report.
The US economy added 379,000 jobs last month, more than analysts’ expectations, with the unemployment rate slightly down to 6.2 percent.
The employment data supports hopes of a recovery in the US economy, and thus an acceleration of inflation, which raises bond yields.
Yesterday, US Federal Reserve Chairman Jerome Powell said that the inflation rate may witness a temporary increase as the economy reopens.
In other data, the US trade deficit rose by 1.9 percent in January.
By 4:30 pm GMT, the yield on the 10-year US Treasury note rose to 1.58 percent, after surpassing 1.6 percent in earlier trading.
The yield on two-year Treasury bonds rose to 1.14 percent, while the yield on government debt for 30 years fell to 2.28 percent.