Business & Finance

Fed selling Treasuries maturing 2/2013 thru 2/2014

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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