- The Washington Times - Monday, April 13, 2009

NEW YORK (AP) - Treasury prices rose Monday as Federal Reserve buying drove demand for government bonds and agency debt.

The Federal Reserve on Monday purchased $7.37 billion in U.S. government bonds and about $5.15 billion in agency debt, which is issued by government entities.

The buying is part of the central bank’s plan to help drive down interest rates and make mortgages and other loans more affordable. Policymakers are hoping that will help revive the economy.

Stocks also fell much of the day before ending mostly higher. The selling in stocks added to demand for the safety of government debt.

The benchmark 10-year Treasury note rose 17/32 to 99 1/32. Its yield fell to 2.86 percent from 2.92 percent late Thursday. Markets were closed for Good Friday.

The 30-year bond rose 16/32 to 96 3/32, and its yield fell to 3.72 percent from 3.75 percent.

The two-year note rose 4/32 to 99 31/32 and its yield fell to 0.88 percent from 0.96 percent.

The yield on the three-month Treasury bill fell to 0.16 from 0.17 percent. The discount rate was 0.17 percent.


Copyright © 2018 The Washington Times, LLC. Click here for reprint permission.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide