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Capital Gold Group Report: Fed buys $2.07 billion in Treasurys; bonds stay down

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By Deborah Levine

NEW YORK (MarketWatch) — The Federal Reserve Bank of New York bought $2.07 billion in Treasury debt on Wednesday, the last buyback operation for the holiday-shortened week. The purchases are part of the Fed’s second round of quantitative easing combined with a previous program to reinvest cash from its maturing mortgage-related holdings back into Treasurys. Dealers offered to sell the Fed $13.055 billion in debt maturing from 2021 to 2027. The Fed previously said it expected to buy $1.5 billion to $2.5 billion during the operation. After the announcement, the broader bond market stayed under pressure. Yields on 10-year notes, which move inversely to prices, rose 2 basis points to 3.33%.

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