Treasurys pop after jobs report (CNNMoney)

Admin — Sat, 07 Nov 2009 01:14:32 +0000

Government debt prices move higher after Labor Department reports unemployment rate spiked to 10.2%. Treasury prices were higher Friday after the government reported that unemployment spiked to 10.2% — its highest level since April 1983.

The jump raised demand for the perceived safety of government-backed debt, which typically attracts investors in times of economic uncertainty.

But gains were limited ahead of next week’s $81 billion record refunding, which includes 2-year and 10-year notes, along with the 30-year bond.

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Treasurys pop after jobs report (CNNMoney)