Federal Bank Purchases $1.379 Billion Of Treasury Debt

The Federal Reserve Bank of New York on Thursday acquired $1.379 billion worth of Treasury debt, matured between 2012 and 2013. The move was part of the assurance to invest cash generated from mortgage-backed securities and from housing agency debt into the bond market with the aim of supporting the recovery of the US economy. Dealers offered to sell $30.162 billion in debt to the central bank. Subsequently, the bond market dipped and pushed yields up.

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