By Henny SenderOn a steamy July morning in New York recently, the US Federal Reserve, in accordance with announced plans, began purchasing $3bn in government bonds maturing between February 2021 and 2026.
Prices rose in anticipation of the Fed move.
Some two hours later, the US Treasury auctioned $39bn in five-year notes.
Prices for government debt dipped on expectations of increased supply.
So goes another day in the market for US government securities.
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