Fed funds closed at 0.15 percent yesterday after trading from 0.09 percent to 0.16 percent and averaging 0.13 percent, according to ICAP Plc, the world’s largest inter-dealer broker.
The central bank will acquire $1.25 billion to $1.75 billion Treasuries maturing from February 2036 to February 2043. The transactions are part of the Fed’s latest round of debt purchases, known as quantitative easing, aimed to keep long-term rates low and support economic growth.
The Federal Reserve Bank of New York will also release its upcoming monthly schedule for its Treasury purchases. The announcement is scheduled for 2 p.m. New York time.
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