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Fed sells $7.586 bln of shorter-dated Treasuries
December 13, 2012 / 7:11 PM / 5 years ago

Fed sells $7.586 bln of shorter-dated Treasuries

NEW YORK, Dec 13 (Reuters) - The Federal Reserve on Thursday sold on the open market $7.586 billion of U.S. Treasuries maturing April 2015 through May 2015, the New York Fed said on its website.

Dealers submitted bids for a total of $41.755 billion of Treasuries in the sale, the New York Fed said.

The sale was part of the Fed’s “Operation Twist” stimulus program, which 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 $4.66 billion of Treasuries maturing February 2021 through November 2022.

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