Treasury yields jump after strong jobs report

Treasury prices tumbled, leading yields to rise, after the U.S. added 255,000 jobs in July, a number that exceeded expectations and was the second-straight strong gain, after June's stellar report. The yield on the 10-year Treasury note , the U.S. benchmark, climbed 3.5 basis points to 1.542%. Yields and prices move in opposite directions and one basis point is equal to one hundredth of a percentage point. The yield on the benchmark two-year note , which is the most sensitive to interest-rate-hike expectations added 5.1 basis points to 0.698%. The yield on the 30-year bond gained 3.1 basis points to 2.287%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.