News that the U.S. Treasury will begin selling off its portfolio of mortgage-backed securities was greeted with dollar buying. The Treasury's portfolio of $142 bln of agency guaranteed MBS will be sold at a pace of $10 bln a month. The sales will start this month, according to reports, and the Treasury Department expects to make a $15-20 bln profit.
This is of course different than the Federal Reserve sales, but the fact that the Treasury is citing improved market conditions is notable. The consensus is for the Federal Reserve to complete its $600 bln Treasury purchases under
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Veronica Kay Mýa Natalie Imbruglia Patricia Velásquez Jennifer Morrison
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