U.S. Treasuries extended price losses and 10-year yields rose to their highest levels in almost two years on Friday, after data showed that employers added more jobs than were expected in June.

Benchmark 10-year notes were last down 1-5/32 in price to yield 2.65 percent, after getting as high as 2.67 percent immediately after the data, its highest level since August 2011.

Treasuries yields have surged on expectations that the Federal Reserve will begin paring back its bond purchase program as the economy improves.