Fed Funds Projected to Open at 0.14% to 0.18%, ICAP Says
Fed funds closed at 0.12 percent on Sept. 14 after trading from 0.07 percent to 0.23 percent and averaging 0.15 percent, ICAP Plc, the world’s largest inter-dealer broker, said in an e- mailed statement.
The Fed will conduct two operations as part of its plan to replace short-term debt in its portfolio with longer-term Treasuries. The the central bank will buy $4.5 billion to $5.5 billion of Treasuries due from November 2020 to August 2022 at 10:15 a.m. New York time. At 1:15 p.m., the Fed will sell $7 billion to $8 billion of Treasuries maturing from December 2014 to May 2015.
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