MW: Treasurys drop as payrolls fall by least in year
By Deborah Levine
NEW YORK (MarketWatch) -- Treasury prices dropped on Friday, pushing yields to the highest in almost two months, after the Labor Department said the U.S. economy lost 247,000 jobs in July, and payrolls were revised higher for May and June. Yields on 10-year notes (UST10Y 3.76, +0.01, +0.24%) rose by 13 basis points to 3.87%. The report also said the unemployment rate unexpectedly fell to 9.4% from 9.5% in June. Economists surveyed by MarketWatch predicted payrolls would fall by 275,000 and saw a 9.7% unemployment rate.
