Bloomberg News

German Bunds Climb on Safety Bid; U.S. Payroll Data Disappoints

June 03, 2011

June 3 (Bloomberg) -- German government debt extended gains after data showed U.S. employers added the fewest number of workers in eight months and unemployment unexpectedly rose.

The yield on 10-year bunds, Europe’s benchmark debt securities, fell two basis points to 2.97 percent as of 1:31 p.m. in London after earlier rising to 3.01 percent. The two- year yield slid three basis points to 1.61 percent.

U.S. payrolls increased by a less-than-projected 54,000 last month, after a revised 232,000 gain in April, Labor Department figures showed today.

To contact the reporter on this story: Lucy Meakin in London at lmeakin1@bloomberg.net

To contact the editor responsible for this story: Keith Campbell at k.campbell@bloomberg.net


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