Comments on: Uncertain Fed support sinks bonds Thu, 21 Jul 2016 07:57:19 +0000 hourly 1 By: Peter Blyth Fri, 01 May 2009 04:03:56 +0000 This helps clarify that there is no such thing as a free lunch. If the Fed buys debt issued by Treasury then the end result is that it transforms the effective maturity of that from long term to short term. This is hardly a sustainable long term position.