Yield climb continues...

Another day, another rise in interest rates (at least so far). The catalyst: This morning's jobs report. Nonfarm payroll growth was a bit hotter than expected (211,000 in March vs. the 190,000 forecast). Also, the unemployment rate dropped 0.1% to 4.7% (vs. a forecast of 4.8%). Wage growth on the month was a touch slower than forecast. But all in all, this report solidifes the likelihood of more Fed rate hikes. Long bond yields just cracked 5% -- the first time that's happened since August 2004.