Fed funds closed at 0.1 percent yesterday after trading from 0.07 percent to 0.18 percent and averaging 0.16 percent, ICAP Plc, the world’s largest inter-dealer broker, said in an e- mailed statement.
The Fed will conduct two open-market operations today as part of its plan to replace short-term debt in its portfolio with longer-term Treasuries. The central bank will buy $1.75 billion to $2.25 billion of Treasuries due from February 2036 to August 2042 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 May 2014 to April 2015.
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