US non-farm data stronger than expected, US bonds fall to intraday lows, yield curve flattens.

The price of US Treasury futures fell to intraday lows, with yields on 2-year to 5-year government bonds rising by over 10 basis points. Yields rose by 6-10 basis points across the board, leading to a flattening of the yield curve. The yield spreads on the 2s10s and 5s30s narrowed by 3 basis points and 4 basis points respectively.