NEW YORK (AP) -- Traders are exiting the safety of U.S. bonds and buying riskier investments such as stocks on hopes that the U.S. economy is improving after the unemployment rate dropped to its lowest level in three years.
Stocks are riskier but may return more for investors if the economy improves.
The price of the benchmark 10-year Treasury note dropped $1.09 for every $100 invested, sending its yield up to 1.95 percent from 1.82 percent late Thursday.
The 30-year bond plummeted $2.09, sending its yield up to 3.15 percent from 3 percent.
The government says the United States added 243,000 jobs last month, far more than economists expected and the most since last April. That sent the unemployment rate to 8.3 percent, the lowest in three years.
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