(1888PressRelease)
March 21, 2009 - 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,” said Douglas Morgan, CEO at Hoffman Meyer Associates in Seattle. “But we see a risk the market will be disappointed. A lot of Fed programs aren’t fully operational and policy makers may have a good point in deciding to wait.”
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.”
Hoffman Meyer Associates is Seattle's leading merger and acquisition, business brokerage firm. As a mergers & acquisition firm, our principals have completed scores of transactions of privately and publicly held companies during the past 25 years.
Over the years, our firm has developed strong relationships with companies and individuals that are ancillary to the mergers & acquisition process including banks, mezzanine lenders, asset lenders, transaction attorneys, certified public accountants, and financial planners. We are also affiliate members of leading merger & acquisition, business valuation, accounting and brokerage associations.
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