Gary Siegel

Manufacturing activity in the Federal Reserve Bank of Kansas City's region “expanded at a slower pace with solid expectations for future activity” in April, according to the bank's monthly manufacturing survey, released Thursday.

Pending home sales decreased 0.8% to an index reading of 111.4 in March, after an unrevised 5.5% rise to 112.3 in February, according to a report released Wednesday by the National Association of Realtors.

The Treasury Department auctioned $34 billion of five-year notes, with a 1 7/8% coupon, a 1.875% high yield, a price of 99.999953.

The Treasury Department Wednesday auctioned $15 billion of two-year floating rate notes with a high discount margin of 0.070%, at a 0.070% spread, a price of 99.999994.

The Treasury Department Tuesday auctioned $26 billion of two-year notes with a 1 1/4% coupon at a 1.280% yield, a price of 99.941005.

The Treasury Department Tuesday auctioned $60 billion of four-week bills at a 0.735% high yield, a price of 99.942833.

Texas service sector activity “increased in April, albeit at a slower pace than in March,” according to business executives responding to the Federal Reserve Bank of Dallas' Texas Service Sector Outlook Survey.

Service sector activity “improved notably in April,” according to the Federal Reserve Bank of Richmond service-sector activity survey, released Tuesday.

Manufacturers in the central Atlantic region “were upbeat again in April,” according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond, as the manufacturing index dipped to 20 in April from 22 in March.

The consumer confidence index decreased to 120.3 in April from a revised 124.9 last month, The Conference Board reported Tuesday.

The S&P/Case-Shiller seasonally adjusted 20-city composite index rose 0.7% in February, unadjusted the index was up 0.4%.

The region's non-manufacturing sector “continued to expand,” this month's Federal Reserve Bank of Philadelphia Report on Business, released Tuesday, indicates.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were mixed, as the three-months incurred a 0.820% high rate, unchanged from 0.820% the prior week, and the six-months incurred a 0.955% high rate, up from 0.945% the week before.

The Treasury Department said Monday it will sell $60 billion of four-week discount bills Tuesday.

Texas factory activity, as measured by the production index, “increased for the 10th consecutive month in April,” according to the monthly Texas Manufacturing Outlook Survey conducted by the Federal Reserve Bank of Dallas, released Monday.

The Chicago Fed National Activity Index for March decreased to 0.08 from a downwardly revised 0.27 in February, the Federal Reserve Bank of Chicago reported Monday.

The Federal Reserve expectations of three rate hikes this year still stand, Federal Reserve Board Vice Chair Stanley Fischer said in a televised interview Friday.

The next Fed rate hike does not matter as much as fiscal policy, Federal Reserve Bank of Minneapolis President Neel Kashkari said Friday.

Existing home sales gained 4.4% to a seasonally adjusted 5.71 million-unit rate in March from a revised 3.9% decline to 5.47 million sales pace the previous month, the National Association of Realtors announced Friday.

The Treasury Department Thursday auctioned $16 billion of five-year inflation-indexed notes with a 0.125% coupon, at a negative 0.049% high yield, an adjusted price of 101.002153.