Ten-year yields fell below 3 percent after rising 15 basis points in the prior three days as stocks gained. Fed officials, who end a two-day meeting today, said in January they may buy longer-term Treasuries to revive lending. The Bank of Japan said it will raise its monthly purchases of government bonds to 1.8 trillion yen ($18.3 billion).
“Hopes are running high that the Fed may follow the BoJ and announce they are going to buy Treasuries,”
He continued his short speech by saying “Central bankers are likely to refrain from giving more guidance on possible purchases because selected economic data such as retail sales has improved, market conditions are better and officials have played down the option in recent comments.”
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