U.S. government debt prices inched up Friday as worries over Europe’s debt crisis drove traders into the Treasury market.
The price of the 10-year Treasury note rose 31.2 cents for every $100 invested in Friday trading. Its yield dipped to 1.97 percent from 2 percent late Thursday.
A strong jobs report had pushed Treasury prices lower Friday morning. The government said the unemployment rate dropped to 8.5 percent last month and U.S. employers added 200,000 net jobs.
But concerns about Europe’s debt troubles soon lured traders back into Treasurys. Italy’s borrowing costs jumped above 7 percent, and the euro fell to a 16-month low against the dollar.
In other Treasury trading, the price of the 30-year bond rose 93.7 cents for every $100. The higher price lowered its yield to 3.01 percent from 3.07 percent late Thursday. The yield on the two-year Treasury note remained at 0.26 percent, the same as the day before.
In the market for short-term bills, the three-month Treasury bill paid a yield of 0.01 percent.