U.S. government debt yields varied Friday after the Department of Labor reported that the economy added 228,000 jobs in November. The yield on the benchmark 10-year Treasury note ticked higher to 2.381 percent at 2:24 p.m. ET, while the yield on the 30-year Treasury bond also ticked upward to 2.775 percent. Meanwhile the yield on the 5-year Treasury note slipped to 2.143 percent. Bond yields move inversely to prices.

Treasurys

On the final trading day of the week, it was all about the U.S. labor market. In the latest report on the employment situation, the Department of Labor said the U.S. economy added 228,000 jobs in the month of November, ahead of consensus expectations. Following a strong report in October, the November jobs report provides more evidence of a tightening labor market. The unemployment rate held steady at 4.1 percent. The figures are likely to be of key importance when it comes to what the Federal Reserve will do at its monetary policy meeting this month. The central bank has been scrutinizing economic indicators for any signs of inflation or an overheating economy. With a Republican tax cut looking likely, the Fed may be inclined to hike rates a final time in 2017. Looking to the political space, U.S. tax reform continues to make headlines, with markets awaiting any developments surrounding the topic. On Thursday, Congress moved swiftly to deliver a short-term funding bill to President Donald Trump, in order to avoid a government shutdown this coming weekend.