India, Aug. 1 -- Treasuries moved sharply higher during trading on Friday, extending the modest upward move seen over the course of the previous session.
Bond prices surged early in the session and remained firmly positive throughout the day. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, plunged 14.0 basis points to 4.220 percent.
With the steep drop on the day, the ten-year yield tumbled to its lowest closing level in three months.
The spike by treasuries came after the Labor Department released a report showing much weaker than expected job growth in the month of July.
The Labor Department said non-farm payroll employment rose by 73,000 jobs in July, while economists had expected employment...