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Fed's plan pushes short-term Treasurys higher

Fed's plan pushes short-term Treasurys higher

Short-term Treasurys jumped after the Federal Reserve unveiled details of its plan to boost the U.S. economy.
The Federal Reserve said it would begin spending an extra $600 billion on Treasury bonds through June of next year. The Fed's move is meant to push long-term interest rates lower and encourage spending.
The yield on the five-year bond fell to 1.11 percent from 1.16 percent late Tuesday. The two-year yield moved to 0.34 percent from 0.35 percent the previous day.
The 10-year yield slipped to 2.60 after the announcement, and the yield on the 30-year bond rose to 4.02 percent. The 30-year bond was not among those being targeted heavily by the Fed's bond-buying program.


Updated : 2021-07-28 23:12 GMT+08:00