Treasurys rise as Europe woes outweigh jobs report (AP)

U.S. government debt prices are rising as worries over Europe's debt crisis drive traders into the Treasury market.

The price of the 10-year Treasury note is up 40.6 cents for every $100 in Friday afternoon trading. Its yield dipped to 1.95 percent from 2 percent late Thursday.

A strong jobs report had pushed Treasury prices lower Friday morning. The government said the unemployment rate dropped to 8.5 percent last month and U.S. employers added a net 200,000 jobs.

But concerns about Europe's debt troubles soon lured traders back into Treasurys. Italy's borrowing costs jumped and the euro fell to a 16-month low against the dollar.

In other trading, the price of the 30-year Treasury bond rose $1.03 for every $100. Its yield fell to 3.01 percent from 3.07 percent Thursday.

Source: http://us.rd.yahoo.com/dailynews/rss/europe/*http%3A//news.yahoo.com/s/ap/20120106/ap_on_bi_ge/us_credit_markets

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