NEW YORK, Aug 2 (Reuters) - U.S. Treasury yields dropped

after data showed the world's largest economy created fewer jobs

than expected in July, boosting expectations of multiple rate

cuts by the Federal Reserve this year.

U.S. 10-year yields dropped as low as 3.79%, the lowest

since December, and were last down 15.9 bps at 3.818%

.

U.S. two-year yields fell below 4% for the first time since

May 2023. They were last at 3.945%, down 21.7 bps.

(Reporting by Gertrude Chavez-Dreyfuss;)