3.26.2009

Treasuries little changed before sale of 7 year notes

I swear this headline said "treasuries fall" about an hour ago. - Ed.

By Anchalee Worrachate and Wes Goodman

March 26 (Bloomberg) -- Treasuries were little changed as the government prepared to sell $24 billion of seven-year notes, the third auction this week of a record $98 billion in notes.

Ten-year Treasuries pared earlier losses traded after the Commerce Department reported gross domestic product contracted 6.3 percent from October to December. The Federal Reserve bought $7.5 billion of Treasuries yesterday, its first targeted purchases since the early 1960s.

Read more @ Bloomberg


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