I realized tonight that America's 99% are fucked for years to come

[dkf]

30. Treasury Yields Drop as Fed Buys Longer-Term Securities

Treasury 10-year notes rose as the Federal Reserve bought $4.5 billion of government debt in the first of four rounds of purchases over three days that equals the most by the central bank since December.

Yields declined in the first day of trading after the biggest quarterly rout in the U.S. government-bond market since 2010 as policy makers continue to buy debt to ensure borrowing costs remain low as the economy shows signs of strengthening. The drop came even as a report showed manufacturing in the U.S. expanded at a faster pace than forecast in March.

“There’s no supply,” said Ray Remy, head of fixed-income in New York at Daiwa Capital Markets America Inc., one of 21 primary dealers obligated to bid in U.S. debt auctions. “We have buybacks all week.”

Yields on 10-year (USGG10YR) notes fell three basis points, or 0.03 percentage point, to 2.19 percent at 5 p.m. New York time, according to Bloomberg Bond Trader prices. The 2 percent securities maturing in February 2022 rose 7/32, or $2.19 per $1,000 face amount, to 98 12/32.

The central bank is scheduled to purchase as much as $12 billion in Treasuries maturing from July 2018 to February 2042 this week and up to $1.5 billion in inflation-indexed debt. The Fed today purchased Treasuries maturing from May 2020 to November 2021.

http://www.businessweek.com/news/2012-04-01/treasuries-fall-before-factory-employment-reports-this-w