NEW YORK, May 3 (Reuters) - U.S. Treasury yields fell on Friday after data showed the world's largest economy created fewer jobs than expected last month, reinforcing expectations that the Federal Reserve will start cutting interest rates this year.
Data showed that U.S. onfarm payrolls rose by 175,000 jobs in April. The jobs number for March was revised higher to show payrolls rising by 315,000 jobs instead of 303,000 as previously reported. Economists polled by Reuters had forecast payrolls advancing by 243,000.
The benchmark U.S. 10-year yield fell 7.4 basis points to 4.497%, while that of the two-year yield dropped 9.8 bps to 4.778%. (Reporting by Gertrude Chavez-Dreyfuss)
