The sharp drop caused the yield to soar to 8.97 percent, from 8.89 percent Friday.

But bond prices tumbled while yields, which move in the opposite direction, soared.

Bond prices tumbled yesterday, and their yields - which move in the opposite direction - soared.

That was the largest one-day surge since June 2, 1987, when the yield soared 32 basis points, to 8.93 percent.

In this atmosphere, the yield on the 30-year bond has soared from 7.31 percent at the beginning of October to 7.63 Friday.

The yield on the Treasury's 30-year bond soared to 7.54 percent, from 7.33 percent.

The yield on Italy's 10-year bonds soared back over the 7pc bail-out level.

This week the yield on the latest 30-year Treasury bond soared above 10 percent.

Its yield soared to 8.68 percent, from 8.45 percent at the Tuesday close.

Markets Treasury securities prices plunged and yields soared on the job numbers.