U.S. Treasury yields declined on Friday following the release of disappointing jobs data. The yield on the benchmark 10-year Treasury note fell to 2.59%, while the 30-year bond yield decreased to 3.44%.

The Labor Department reported that the U.S. economy added 217,000 jobs in May, which was below economists’ expectations of around 230,000. The unemployment rate remained unchanged at 6.3%.

The weaker-than-expected jobs report led investors to believe that the Federal Reserve may be less likely to raise interest rates sooner than anticipated. The Fed has been closely monitoring the labor market as it considers when to begin tightening monetary policy.

The decline in Treasury yields also reflected concerns about the strength of the global economy. Recent data from Europe and China have suggested that economic growth may be slowing.

• 10-year Treasury note yield: 2.59%
• 30-year bond yield: 3.44%
• May jobs added: 217,000
• Unemployment rate: 6.3%