Treasurys Sink, Dollar Rallies on Strong Payrolls

        8:36 EDT - A far greater-than-expected 288k gain in April payrolls has bond owners reeling and US dollar bulls applauding. Ten-year notes sink 21/32 to yield 2.684%, while 2-year notes fall 3/32 to yield 0.466%. The dollar jumps to Y102.88 from Y102.51 before the report. While the Fed will still only gradually taper, the worry for bond investors now is that a rate hike will come soon after QE is done if the labor market keeps improving at this pace. (cynthia.lin@wsj.com; @cynthialin_dj)
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        May 02, 2014 08:36 ET (12:36 GMT)