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TREASURIES-Prices turn higher on stocks, Fed buy
November 27, 2012 / 3:41 PM / 5 years ago

TREASURIES-Prices turn higher on stocks, Fed buy

NEW YORK, Nov 27 (Reuters) - U.S. government debt prices turned higher on Tuesday, prompted by weakness in Wall Street stocks and expected Treasuries purchases by the Federal Reserve for “Operation Twist.”

The U.S. central bank was set to buy $1.50 billion to $2.00 billion in Treasuries maturing February 2023 to February 2031 at about 11 a.m. (1600 GMT).

The purchase was one of six this week for a bond program aimed at lowering long-term interest rates to stimulate the economy.

The 30-year bond last traded up 10/32 in price at 99-8/32, near its session high. It was yielding 2.786 percent, down 1.7 basis points from late on Monday.

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