TREASURIES-Yields jump, 10-year tops 1.6% for first time since June - NewsBreak

(Recasts; updates yields; adds analyst comments, breakeven inflation rates, and upcoming auctions) By Karen Pierog CHICAGO, Oct 8 (Reuters) - U.S. Treasury yields hit multi-month highs on Friday in the wake of a weaker-than-anticipated September employment report that was still expected to keep the Federal Reserve on track with its tapering plans and as inflation expectations rose. The benchmark 10-year yield, which dropped to a session low of 1.558% shortly after the jobs data, later climbed to its highest level since June 4 at 1.617%. It was last up 3.2 basis points at 1.603%. Yields on 20- and 30-year bonds also jumped to levels previously seen in June before easing later in the session. "Treasuries are under a great deal of stress based on positioning for Fed tapering and also rising concerns about inflation," said John Canavan, lead analyst at Oxford Economics. Analysts said despite underwhelming jobs data, the Fed next month was likely to announce plans to reduce its $120 billion