FREEDOM FORUM: Discussion

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The Federal Reserve Bank of New York bought $7.248 billion in Treasurys on Wednesday, the first of two operations this week. Dealers submitted $17.913 billion in debt maturing between 2013 and 2016 to the Fed. The central bank is more than two-thirds of the way through the $300 billion in U.S. debt it promised in March to buy in an effort to keep borrowing costs, particularly for companies and homebuyers, affordable. When the Fed bought from this maturity range a month ago, it purchased $7 billion. Treasury prices remained higher, pushing yields on the 10-year note down 3 basis points to 3.65%.

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