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Originally published July 6, 2012 at 2:06 PM | Page modified July 6, 2012 at 2:41 PM

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Treasury prices rise after weak jobs report

U.S. Treasury prices rose as investors abandoned stocks, spooked by a disappointing read on June jobs.

The Associated Press

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U.S. Treasury prices rose as investors abandoned stocks, spooked by a disappointing read on June jobs.

The yield on the benchmark 10-year Treasury note fell to 1.55 percent late Friday from 1.60 percent late Thursday. The price of the 10-year note rose 47 cents for every $100 invested.

Treasury prices indicate how much investors have to pay for bonds issued by the U.S. government, which are considered some of the safest investments in the world. When investors are nervous about the economy, demand for the bonds goes up and so does the price. The yield, which is the interest rate the government has to pay to persuade people to buy the bonds, goes down when that happens.

U.S. stocks closed lower after the government reported that only 80,000 jobs were created in June.

An average of just 75,000 jobs were created every month in the April-June quarter, far below the 226,000 created every month in the first three months of the year.

The yield on the 30-year bond fell to 2.67 percent from 2.72 percent. Its price rose $1.16 for every $100 invested.

The yield on the two-year note fell to 0.28 percent from 0.29 percent. The yield on the three-month T-bill fell to 0.07 percent from 0.08 percent.

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