10-year U.S. government bond yield logs biggest daily gain in more than two years

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Treasury yields surged on Friday, trimming their week-long decline after the jobs report showed the labor market remained healthy despite the growing pessimism over the economy’s fortunes.

At the same time, Fed Chairman Jerome Powell suggested the central bank would follow a more patient approach to raising rates in acknowledgment of Wall Street’s concerns over the Fed’s tightening.

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