30-year bond up a point after Fed purchases

NEW YORK (BestGrowthStock) – The U.S. 30-year Treasury bond, leading the Treasury market higher, reached a full point gain after Federal Reserve purchases of long-dated Treasuries spurred gains at the long end of the maturity range.

The Fed bought $2.030 billion in Treasuries maturing from August 2028 to May 2040, helping the 30-year bond advance in price and allowing its yield to fall to 4.46 percent from 4.53 percent.

The Fed bought long maturities as part of its program to keep interest rates low to help an economic recovery.

(Editing by Diane Craft)

30-year bond up a point after Fed purchases