Los Angeles Times | March 18, 2009 | 11:37 a.m. PT --- Long-term interest rates plunge, stocks rise after Federal Reserve says it will buy Treasury bonds The Fed said it would buy up to $300 billion of long-term Treasury securities over the next six months, in another effort to bring down interest rates in general and ease the credit crunch. The news immediately drove the yield on the 10-year Treasury note, a benchmark for mortgage rates, to 2.55% from 3% today. The Dow Jones industrial average, which was modestly in the red for the day, jumped on the news, and was up 99 points to 7,494. More soon at: http://link.latimes.com/r/XY25HV/G9HEK/X0GLKI/KBOG/OJTB09/E4/t
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