Fed decides to stay the $600 billion course and bond prices slide further

Nothing surprising in the news from the Federal Reserve’s Open Market Committee today. The Fed said its plans were unchanged and that it would buy $600 billion in Treasuries in the first six months of 2011 in order to stimulate the economy. Nothing new but Treasury prices still took it hard. Prices on the 10-year Treasury fell and the yield climbed to 3.4%.