BLBG: Treasuries Pare Gains as Fed Says It Will Purchase Mortgages
By Daniel Kruger
Nov. 25 (Bloomberg) -- Treasuries pared gains after the Federal Reserve said it will purchase as much as $600 billion in debt issued or backed by government-chartered housing-finance companies.
The central bank will also set up a $200 billion program to support consumer and small-business loans, the Fed said in a statement today in Washington.
The yield on the 10-year note was down 6 basis points to 3.26 percent at 8:22 a.m. in New York, according to BGCantor Market Data. It had dropped as low as 3.20 percent.
To contact the reporters on this story: Daniel Kruger in London at dkruger1@bloomberg.net
