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Business & Finance

Fed selling Treasuries maturing 2/2013 thru 2/2014

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By Shoaib Ur Rehman
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treasuryNEW YORK: The Federal Reserve on Friday was selling on the open market US Treasuries maturing February 2013 through February 2014, the New York Fed said on its website.

The Fed previously said it intended to sell $7 billion to $8 billion of short-dated Treasuries on Friday.

The sale was part of the Fed's latest stimulus program, dubbed "Operation Twist" - a program that extends the maturity of the central bank's Treasuries holdings in a bid to lower mortgage rates and other long-term borrowing costs.

Copyright Reuters, 2012

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