NEW YORK (CNNMoney) -- Treasury prices fell back slightly after the Federal Reserve purchased $7.56 billion in government bonds Wednesday.
The large purchase pushed yields higher, sending the benchmark 10-year note to 3.35%, after it traded at 3.33% earlier in the day. Bond yields and prices move in opposite directions.
The Federal Reserve plans to purchase $600 billion in Treasuries through June as a way to pump more money into the economy and stimulate business and consumer spending.
Wednesday's purchase of $7.56 billion in notes was part of that plan, referred to as quantitative easing.
Because the large buy has an immediate impact on the supply of bonds, it sent bond prices falling.
But that fall comes even as investors have flocked to safe-haven government bonds amid uprisings in the Middle East, and the aftermath of Japan's deadly earthquake and nuclear crisis.
Before the uprisings in Libya started February 15, the 10-year note's yield was at 3.61%.
On Wednesday, the yield on the 2-year note rose to 0.66%, the 5-year note yield inched up to 2.1% and the 30-year bond yield reached 4.4%.
Overnight Avg Rate | Latest | Change | Last Week |
---|---|---|---|
30 yr fixed | 3.80% | 3.88% | |
15 yr fixed | 3.20% | 3.23% | |
5/1 ARM | 3.84% | 3.88% | |
30 yr refi | 3.82% | 3.93% | |
15 yr refi | 3.20% | 3.23% |
Today's featured rates:
Index | Last | Change | % Change |
---|---|---|---|
Dow | 32,627.97 | -234.33 | -0.71% |
Nasdaq | 13,215.24 | 99.07 | 0.76% |
S&P 500 | 3,913.10 | -2.36 | -0.06% |
Treasuries | 1.73 | 0.00 | 0.12% |
Company | Price | Change | % Change |
---|---|---|---|
Ford Motor Co | 8.29 | 0.05 | 0.61% |
Advanced Micro Devic... | 54.59 | 0.70 | 1.30% |
Cisco Systems Inc | 47.49 | -2.44 | -4.89% |
General Electric Co | 13.00 | -0.16 | -1.22% |
Kraft Heinz Co | 27.84 | -2.20 | -7.32% |
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