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Stock Market and Investing: Fed's Statement on Operation Twist with a Twist - CNBC
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» HelpFed's Statement on Operation Twist with a Twist
Published:
Wednesday, 21 Sep 2011 | 4:35 PM ET 
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By: Patti Domm
CNBC Executive News Editor
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Some traders found Wednesday's Fed statement to be a bit gloomier than expected.
One reason may be the addition of concern about Europe: "there are significant downside risks to the economic outlook, including strains in global financial markets."
The Fed did launch much anticipated "operation twist" with a twist—it is also taking direct aim at mortgages. The Fed said it would replace $400 billion in short-term Treasurys (3-years or less) to the same amount of longer term securities—with durations of 6- to 30-years.
But it also said it would reinvest the runoff from its maturing mortgage securities back into the mortgage market. Take a look here at the Fed's statement and how it was changed from the August statement, courtesy of Ian Lyngen, senior Treasury strategist at CRT Capital.
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