India, May 2 -- Treasuries came under pressure during trading on Friday, extending the notable downward move seen over the course of the previous session.
Bond prices slumped early in the session and saw further downside as the day progressed. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, jumped 9.1 basis points to 4.322 percent.
The extended pullback by treasuries came following the release of a closely watched Labor Department report showing U.S. job growth far exceeded economist estimates in the month of April.
The Labor Department said non-farm payroll employment shot up by 177,000 jobs in April compared to expectations for an increase of about 130,000 jobs.
At the same time, the jumps in...