BLBG: Treasuries Are Little Changed on Speculation Fed to Buy Debt
Treasuries were little changed on speculation the Federal Reserve may announce measures such as buying government debt today at the end of its policy meeting.
“The market is making the bet that the Federal Reserve is going to be a little more definitive about its purchases of Treasuries,” said John Spinello, chief technical strategist in New York at Jefferies Group Inc., a brokerage for institutional investors.
The yield on the benchmark 10-year Treasury note fell 1 basis point, or 0.01 percentage point, to 2.51 percent at 10:09 a.m. in New York, according to BGCantor Market Data. The 3.75 percent security due in November 2018 rose 3/32, or 94 cents per $1,000 face amount, to 110 22/32.
The five-year note yield rose one basis point to 1.58 percent before the Treasury sells $30 billion of the securities tomorrow.
The Fed will keep the target rate for overnight loans between banks in a range of zero to 0.25 percent, according to the median forecast of 46 economists surveyed by Bloomberg News.
