Business & Finance

US Fed sells $8.74bn shorter-term treasuries

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A total of $171.006 billion of Treasuries were submitted in the sale, the New York Fed said.

The sale was part of the Fed's latest stimulus program, dubbed "Operation Twist" a $400 billion 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