Fed buys $7.9 bln in bonds; Treasurys stay down
NEW YORK (MarketWatch) — The Federal Reserve Bank of New York bought $7.923 billion in Treasury bonds on Monday, its second operation as the central bank engages in a second round of quantitative easing to support lending and spending. The amount includes purchases to be made under a previous program to reinvest cash from its maturing mortgage-related holdings back into Treasurys. Dealers offered to sell the Fed $28.005 billion. The Fed had said it would buy $7 billion to $9 billion in debt maturing from 2016 to 2017. After the announcement, the broader bond market pared its decline. Yields on 10-year notes , which move inversely to prices, rose 4 basis points to 2.83%.
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