"...The new purchases of $45 billion of Treasurys are designed to keep the total pace of its asset purchases at $85 billion a month..."Dear Jeff :Wasn't the bond market reaction rather odd? Treasury yields increased, i.e., Treasuries sold off! One would think that bond yields would have decreased as buyers tried to buy as low as possible.Could it have had something to do with the program starting in January, 2013, i.e., a new tax year?Now the quotes that we see on Treasury yields are a composite of secondary market sources. Refer to the explaination below the quotes :http://www.treasury.gov/resource-center/data-chart-center/in...Or could it have something to do with the increase in the volatility in bond trading? Are Treasuries now subject to the rule of 'buy on the rumor, sell on the news'?Your puzzled Fool,FM
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