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The securities are inflation-protected Treasury notes.
The price of Treasury notes rose yesterday.
(Treasury Notes) Greg Mankiw on fiscal policy (Modeled Behavior).
Treasury notes are held as secondary reserves by commercial banks.
(Source: Bloomberg); Two-Year Treasury Notes: High yields in percent.
Yesterday 10-year Treasury notes were yielding about 7.4percentt.
Two-year Treasury notes ended the week at 6.61percentt.
Prices of Treasury notes rose, while those of long-term government bonds fell.
Members said buying Treasury notes would ease lending conditions across long-term credit markets.
Back in 1982 the yield on 10-year U.S. Treasury notes was nearly 15%.
Demand was strong for the record $10.8 billion offering of two-year Treasury notes auctioned yesterday.
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