Treasury 30-Year Yield Falls to Week Low Before Fed Buys
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Treasury 30-year yields fell to the lowest level in more than a week before the Federal Reserve buys U.S. government debt today and on concern Europe’s rescue of Greece won’t resolve the region’s debt crisis.
The Fed is scheduled to purchase as much as $5 billion of notes due from February 2018 to February 2020 today as part of its efforts to keep borrowing costs down. Policy makers will probably announce a third round of outright purchases in the second quarter, according to Jefferies & Co. Inc., one of the 21 primary dealers that trade with the central bank.