The Fed was only going to buy long term bondsWe are toast. Burnt toast.
Fed buys $7.37 billion in Treasurys
By Deborah Levine
Last update: 11:12 a.m. EDT April 13, 2009Comments: 12
NEW YORK (MarketWatch) -- The Federal Reserve Bank of New York bought $7.37 billion in Treasurys on Monday, part of a program to improve conditions in private credit markets and spur lending. The debt bought included notes maturing between 2011 and 2012. Dealers submitted $26.6 billion in debt to be purchased. The Fed will continue its buybacks with two more operations this week, heading towards purchasing $300 billion in Treasury securities over the next six months. Two-year note yields (UST2YR:U.S. Treasury 2 Year
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8:05pm 04/09/2009