Treasury yields fell after the September jobs report showed much weaker-than-expected hiring, with employers adding just 29,000 jobs compared with expectations of about 90,000. 

The benchmark 10-year Treasury yield dropped to about 5.18%, while the two-year yield, which is particularly sensitive to expectations for Federal Reserve policy, fell to roughly 4.73%. 

The weaker labor-market data reduced market expectations for another Federal Reserve interest-rate increase at its October meeting. 

Stocks rose following the report as lower Treasury yields and slower wage growth eased some concerns about inflation and borrowing costs, CNBC has reported.

The report therefore pushed bond yields lower and shifted financial markets toward expectations of a more cautious Federal Reserve, although future rate decisions will also depend on inflation and other economic data.