Dollar falls, bonds jump on weak jobs re­port

Los Angeles Times - - BUSINESS - As­so­ci­ated press

U.S. gov­ern­ment bond prices sank and the dollar dropped Fri­day on news that U.S. em­ploy­ers added the fewest jobs in a month since De­cem­ber 2013. The stock mar­ket was closed in ob­ser­vance of Good Fri­day.

Traders saw the weak­erthan-ex­pected job gains in March as a sign that the Fed­eral Re­serve might de­lay rais­ing in­ter­est rates. The rise in bond prices sent the yield on the 10-year Trea­sury down to its low­est level in two months. Fu­tures con­tracts on the stock mar­ket also fell.

The yield on the 10-year Trea­sury note fell to 1.84%. That was down from 1.91% late Thurs­day. Stan­dard & Poor’s 500 in­dex fu­tures fell 20 points, or 1%. The dollar fell nearly 1% against the euro.

Ma­jor Euro­pean stock mar­kets also were closed, while Asian mar­ket fin­ished mostly higher.

In Asia, Tokyo’s Nikkei 225 gained 0.6%. Seoul’s Kospi rose 0.8%, while the Shang­hai com­pos­ite added 1%.

Mar­kets were closed for hol­i­days in Ger­many, France, Bri­tain, Hong Kong, In­dia, Australia and in sev­eral Southeast Asian coun­tries.

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