10-year yield spikes after monster beat by jobs report

U.S. government debt yields jumped on Friday after the government's monthly jobs report showed the U.S. economy creating jobs at a much faster pace than Wall Street expected. At 9:11 a.m. ET, the yield on the benchmark 10-year Treasury note which moves inversely to price, jumped 6 basis points higher to 2.627 percent, while the yield on the 30-year Treasury bond rose 6 basis points to 2.955 percent. The Labor Department said the U.S. economy added 312,000 positions in December and the unemployment rate rose to 3.9 percent.