News. NEW YORK -- NEW YORK (MarketWatch) -- The Federal Reserve Bank of New York said on Monday that it will buyback about $27 billion in Treasury debt through early October as part of officials' pledge to reinvest cash from maturing mortgage-backed securities and housing agency debt back into the bond market to support the economic recovery. The Fed has purchased $17.6 billion in Treasurys since announcing its plan a month ago, when it said it would buy about $18 billion, according to Morgan Stanley. After the announcement, the broader bond market remained higher, pushing yields down. Yields on 10-year notes fell 5 basis points to 2.75%.
My point. Printing money is usually good news.
George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
Ranked best market timer in the 12 and 6 months ending 8/20/10 by Timer Digest
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