Summary Box: Treasury prices jump as Fed announces plans to buy government debt
By APTuesday, August 10, 2010
Summary Box: Treasury prices jump on Fed plans
STIMULUS PLAN: The Federal Reserve said it will use money from its investments in mortgage securities to buy government debt on a small scale.
TREASURY SUPPLY: The Fed’s move would reduce the amount of Treasury securities in the market and could help nudge down long-term rates on mortgages and corporate debt.
YIELDS SINK: The 10-year note’s yield slid to 2.75 during the trading session, its lowest point since March 2009.
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