RTTNews - The Federal Reserve continued its treasury buyback program Wednesday, as part of its quantitative easing measures aimed at easing the grip of the recession on the U.S. economy.
The New York arm of the Federal Reserve purchased $7.7 billion worth of securities with maturity dates ranging from February of 2016 to May of 2019.
The day's buyback attracted considerably strong interest, with a total of $37.18 billion in treasuries submitted for the purchase.
With the purchase, the government has bought back $115.58 billion in treasuries since the program began on March 25th.
Monday, The New York Fed purchased $3.18 billion worth of securities with maturity dates ranging from August of 2019 to February of 2026.
The buyback had a total of $15.22 billion in treasuries submitted for purchase.
In the bond markets, treasuries are seeing some volatility, currently lingering near the unchanged mark for the day. The yield on the benchmark ten-year note is up less than a basis point, at 3.245 percent.
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