March 23, 2020 / 12:55 PM / 6 days ago

TREASURIES-Yields tick up after Fed announces unprecedented stimulus

NEW YORK, March 23 (Reuters) - U.S. Treasury yields rose slightly on Monday morning after the Federal Reserve announced it would backstop an unprecedented range of credit, though yields remained lower on the day.

The benchmark 10-year yield was last down 17.5 basis points at 0.758%, with the two-year yield, last down 5.2 basis points to 0.314%. The long bond was down 20.5 basis points to 1.36%.

The Fed’s steps include establishing new programs that will lend against student loans, credit card loans, and U.S. government backed-loans to small businesses. There will also be new programs to buy bonds of larger employers and make loans to them. (Reporting by Kate Duguid Editing by Chizu Nomiyama)

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