NEW YORK Dec 20 The Federal Reserve on Thursday
sold on the open market $7.421 billion of U.S. Treasuries
maturing December 2015 through January 2016, the New York Fed
said on its website.
Dealers submitted bids for a total of $30.703 billion of
Treasuries, the New York Fed said.
The sale was part of the Fed's "Operation Twist" stimulus
program - 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.
Earlier on Thursday, as part of Twist, the Fed bought $1.729
billion of Treasuries maturing February 2023 through May 2030.