Treasuries Update: 10- and 20-year Yields at Historic Closing Lows

The Fed's latest strategy for managing the economy,Operation Twist, has a month to go. The program was announced on September 21st of last year with the stated purpose of selling $400 billion in shorter-term Treasury securities by the end of June 2012 and using the proceeds to buy longer-term Treasury securities. The Fed assumed this would put downward pressure on longer-term rates, which would...