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Wednesday, October 21, 2009
Fed Buys $1.05 Billion In Treasurys
By Deborah Levine
MarketWatch Pulse
NEW YORK -- The Federal Reserve Bank of New York bought $1.05 billion in Treasurys that mature from 2027 through 2039 on Wednesday, its second-to-last such operation in its $300 billion program started in March. Dealers submitted $6.958 billion for the central bank to buy. Policy makers plan to finish the buybacks later this month, which have been an effort to keep down borrowing costs, particularly for companies and homebuyers. After the buyback, yields on benchmark 10-year notes , which move inversely to prices, pared an earlier increase but remained higher by 5 basis points to 3.49%. Still to come, the central bank will release its Beige Book, a collection of anecdotes about the economy.
Copyright © 2009 MarketWatch, Inc.
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