Exchange traded funds that invest in Treasury bonds reversed some of their recent gains Friday while stocks rallied as investors cheered the April nonfarm payrolls report.

Payrolls jumped 244,000 last month, a better number than economists had expected and the largest rise in nearly a year.

The iShares Barclays 20+ Year Treasury Bond Fund (NYSEArca: TLT) was down more than 1% before Friday’s opening bell. The bond ETF has rallied about 2% over the past week amid the volatility in stock and commodity markets. Investors often move into Treasuries when they are seeking safety.

The Treasury ETF closed Thursday with a year-to-date gain of nearly 3%.

iShares Barclays 20+ Year Treasury Bond Fund

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