Reed Mcpherson CEO Voices Concern As Treasuries Rise for Third Day on Concern European Debt Crisis Will Spread
Treasuries rose for a third day on speculation a funding crisis in Ireland will spread to Portugal and Spain, increasing demand for the relative safety of U.S. government debt.
- (1888PressRelease) December 02, 2010 - U.S. securities also gained as the Federal Reserve prepared to buy $6 billion to $8 billion of notes due from 2014 to 2016 today, after scooping up $9.4 billion of debt yesterday, part of its plan to boost growth. Treasuries still headed for their biggest monthly loss since March amid signs the U.S. economy is improving.
"Persistent concerns surrounding the euro zone debt crisis is supporting the Treasury market," said Michael Richardson, CEO at Reed Mcpherson Associates in Seattle. The Richardson went on to say "The size of the Fed's bond-purchase programme adds to the support, as does the asset-allocation shift away from euro-denominated
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