The Fed buys $7.8B in Treasurys maturing 2016-2017, of $21.1B offered by dealers in today's open...

|By:, SA News Editor

The Fed buys $7.8B in Treasurys maturing 2016-2017, of $21.1B offered by dealers in today's open market operation, and stocks are climbing vertically to session highs. The Dow +0.6% to 11,702, S&P 500 +0.6% to 1,277, and bonds are trading lower: 10-year yield +0.07 to 3.36%; 5-year +0.05 to 1.97%.