10-Year Treasury Yield Rises After Better-Than-Expected Jobs Report

Source: NYSE

The 10-year Treasury yield rose Friday as investors digested a better-than-expected U.S. jobs report.

The yield on the benchmark 10-year Treasury note added 3.1 basis points to 2.46% by 4:05 p.m. ET. The yield on the 30-year Treasury bond moved 2 basis points higher to 3.095%. Yields move inversely to prices and 1 basis point is equal to 0.01%.

The U.S. economy added 390,000 jobs in May, higher than a Dow Jones expectation of 328,000.

At the same time, the unemployment rate held at 3.6%, just above the lowest level since December 1969. Economists surveyed by Dow Jones had been looking for the unemployment rate to edge lower to 3.5%.

On Thursday, Fed Vice Chair Lael Brainard said it's unlikely the central bank will be taking a break from its current rate-hiking cycle any time soon as inflation remained at a 40-year-high.

"Right now, it's very hard to see the cause for a pause," she told CNBC's Sara Eisen during a live "Squawk on the Street" interview. "We've still got a lot of work to do to get inflation down to our 2% target."

— CNBC's Yun Li, Hannah Miao and Pippa Stevens contributed to this article.

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