Fed buys $7.375 bln in Treasurys; bonds stay up
NEW YORK (MarketWatch) — The Federal Reserve Bank of New York bought $7.375 billion in Treasury debt on Friday, part of the Fed’s second round of quantitative easing, and includes purchases made under a previous program to reinvest cash from its maturing mortgage-related holdings back into Treasurys. Dealers offered the central bank $24.073 billion in debt maturing from 2016 to 2018. Since the program began in August, the Fed had bought $397 billion through Wednesday, according to Morgan Stanley. After the buyback, and reports that Egyptian President Hosni Mubarak has resigned, Treasury prices stayed higher. Yields on 10-year notes /quotes/comstock/31*!ust10y (UST10Y 3.64, 0.00, 0.00%) , which move inversely to prices, fell 8 basis points to 3.62%.
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