The 10-year Treasury yield trimmed declines after the Labor Department said job growth in December was more robust than expected, as investors sold bonds and moved money into stocks.

The 10-year yield (10_YEAR) was down one basis point to 2.004%, according to data from Tradeweb. Bond yields move inversely to prices. It had been down more than four basis points earlier in the session.

The 10-year yield rose Thursday after eight consecutive sessions of declines.

David Ader, head of government bond strategy at CRT Capital Group LLC, said the strong headline jobs number would likely help boost U.S. stocks.

But the 0.2% decline in hourly wage growth was “horrible,” Ader said, and would create problems for the Fed, which has repeatedly promised to take a “data-driven” approach to determining the timing of its first increase in the benchmark interest rate, which has been held near zero since 2008. Analysts had expected wage growth of 0.2%.

“[The payrolls data was] a balanced mix and a Fed dilemma in the sense that you have the jobs strength but no sign of wage inflation,” he said.

The Labor Department said the U.S. economy added 252,000 jobs in December. Analysts polled by MarketWatch had expected an increase of 230,000 jobs. The unemployment rate fell to 5.6% from 5.8%.

Also read: How economists are summing up the jobs report

Here’s what bond investors were watching Friday:

In other Treasury trading, the two-year yield (2_YEAR) was down 2.4 basis points to 0.589%, while the 30-year yield (30_YEAR) was up 2.4 basis points to 2.616%.